What is the equipments after-tax net salvage value

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Reference no: EM13264723

Kennedy Air Services is now in the final year of a project. The equipment originally cost $23 million, of which 85% is depreciated. Kennedy can sell the used equipment today for $4.1 million, and its tax rate is 40%. What is the equipment's after-tax net salvage value (net cash flow from salvage)? Keep your answer in millions and round to two decimal places (e.g., 57.65 million is input as 57.65).

Reference no: EM13264723

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