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A firm buys a piece of equipment for $102,480.00 and will depreciate using the 3-year MACRS schedule. If the tax rate is 40.00%, what is

A firm buys a piece of equipment for $102,480.00 and will depreciate using the 3-year MACRS schedule. If the tax rate is 40.00%, what is the present value of the depreciation tax shield if the cost of capital is 10.00%?

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