A firm has a general-purpose machine, which has a book value of $650,000 and will be depreciated on a straight-line basis over the next 5 years to a salvage value of $50,000. If the tax rate is 35%, what is the present value of the tax shield of the depreciation expense? (Assume that the asset is depreciated for tax purposes, not expensed.) Assume a 10% annual discount rate and that the first years worth of depreciation expense occurs precisely one year from now. Show work.