A business purchased equipment in 2017 at the cost of $780,000. The equipment will be placed in a 20% CCA asset class. The expected salvage value of the asset at the end of year 5 is $115,000. The company's marginal tax rate is 30% and the required return of its investors is 15%. What is the present value of the CCA tax shield, including the loss of the tax shield due to salvage value? Step #3: PV of CCA tax shield (nearest dollar without comma or dollar sign, e.g. 15000, or if negative, - 15000): Step 5: PV of CCA tax shield lost due to salvage (nearest dollar without comma or dollar sign, e.g. 15000, or if negative, - 15000)