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? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $398,840.58 b $406,860.57 $390,820.59 d $389,617.59 $408,063.57