Problem:
Consider an asset that costs $878,400 is depreciated straight-line to zero over it's nine-year life. The asset is to be used in a six-year project; at the end of hte project, the asset can be sold for $135,100.
Required:
If the relevant tax rate is 30 percent, what is the aftertax cash flow from the sale of this asset?
Note: Please provide equation and explain comprehensively and give step by step solution.