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A firm buys a piece of equipment for $157,485.00 and will straight-line depreciate it to zero over five years. If the tax rate is 36.00%,

A firm buys a piece of equipment for $157,485.00 and will straight-line depreciate it to zero over five years. If the tax rate is 36.00%, what is the present value of the depreciation tax shield if the cost of capital is 11.00%?

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