A firm is considering the purchase of a new equipment costing $7,830,175 which qualifies for a 36% CCA rate. This equipment has a 4-year life after which it can be sold for $982,680. The firm can lease it for $2,072,180 per year for its useful life. Assume that the firm makes payments at the end of the year, the asset pool remains open, the tax rate is 31%, and the pre-tax cost of borrowing is 8.74%. What is the present value of the CCA tax shield? $1,733,992 $1,779,624 $1,825,255 $1,870,886 $1,916,518