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A two - year project has sales of $ 5 8 2 , 9 6 0 , cash costs of $ 4 1 1 ,

A two-year project has sales of $582,960, cash costs of $411,015, and depreciation expense of $78,109. The tax rate is 24 percent, and the discount rate is 12 percent. What is the amount of the annual depreciation tax shield? Ignore bonus depreciation.
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