A project requires initial asset investment of $2 million. The asset will last for 6 years, and will be depreciated for tax purposes at the CCA rate of 30%. The required return on this project is 15%, and the marginal corporate tax rate is 32%. Assuming that the asset will have a salvage value of $100,000 at the end of Year 6, what is the present value of the CCA tax shields from this project? A $398,840.58 B $406,860.57 $390,820.59 D $389,617.59 E $408,063.57