A company is considering a 5 year project that would require an asset with an installed cost of $5,000,000. The asset qualities for a 20% CCA tate and is expected to have no salvage value at the end of the 5 years. The project would require a $320,000 up front investment in net working capital and is expected to generate annual before-tax cost savings of $1,000,000. Assume the company requires a return of 13% and has a tax rate of 25%. What is the present value of the CCA tax shield? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commes and the $ sign in your response. For example, an answer of $1000:50 should be entered as 1000.50. Numeric Response