Pioneer Imports has equipment that it purchased 5 years ago for $2,650,000. The equipment was used for a project that was intended to last for 7 years. However, due to low demand, the project is being shut down two years earlier than planned. The equipment was depreciated using the straight-line method and can be sold for $420,000 today. The company's tax rate is 35 percent. What is the aftertax salvage value of the equipment?

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