Consider an asset that costs $688,000 and is depreciated straight-line to zero over its eight-year tax life. The asset is to be used in a five-year project; at the end of the project, the asset can be sold for $181,000. If the relevant tax rate is 35 percent, what is the aftertax cash flow from the sale of this asset? (Do not round intermediate calculations.)
Please show some work to back up your solution.