AAA corporation is considering replacing a projector system in one of its cinemas. The new projector has super-holographic sound and is able to project laser-sharp images. These features would improve the attendance at the theatre; and the new projector could cut repair costs dramatically. The new projector costs $250,000 and has a useful life of 15 years, at which time it could be sold for $20,000. The projector currently being used was purchased for $150,000 five years ago and can be sold now for $50,000. In 15 years the old projector would be scrapped for $5,000. The new projector would increase operating income by $50,000 annually; it belongs to Class 9 with a CCA rate of 25 percent. The company requires a 15 percent return on replacement assets and the corporate tax rate is 43.5 percent.

Question: Considering the above information, what is the present value of the tax shield on AAA corporation's projector system assuming the tax shield goes on in perpetuity?