A manufacturing company just bought a new piece of equipment for $1.6 million. It is a class 8 asset and so the CCA rate is 22%. The following information is given: - after-tax annual interest rate =...

A manufacturing company just bought a new piece of equipment for $1.6 million. It is a class 8 asset and so the CCA rate is 22%. The following information is given:

- after-tax annual interest rate = 12%

- corporate tax rate = 32%

- service life = 10 years

- historic depreciation rate = 25%

Calculate the present worth of the equipment's salvage value with tax effects.

Pls solve with details explanation