A company can purchase some equipment for $1,200,000 or lease it for $195,000 at the beginning of each of the next 4 years. Depreciation will be 14.29%, 24.49%, 17.49%, 12.49% respectively for years 1 through 4. If the firms before-tax cost of debt is 9% and its marginal tax rate is 20%, what is the present value of the depreciation tax shield for the 2nd year? Group of answer choices

$51,146

$42,622

$255,729

$208,844