A company can purchase some equipment for $2,000,000 or lease it for $350,000 at the beginning of each of the next 4 year: Depreciation will be 14.29%,24,49%,17.49%,12.49% respectively for years 1 throunh 4 , If the firm's before-tax cost of debt k : 7% and its marginal tax rate is 20%, what is the present value of the depreciation tax shield for the 2 nd year? 505,562