A company is considering the purchase of an equipment for $229,001. The equipment belongs in a 30% CCA class. The company expects that it will be able to sell the equipment for $49,500 in four years' time. What is the present value of the CCA tax shield on this equipment if the tax rate is 34% and the relevant discount rate is 12%?

Question 21 options:

a)$41,203

b)$39,371

c)$58,316

d)$31,458

e)$44,995