ABC Company purchased new office furniture and assigned the furniture a 10-year useful life. The furniture is classified in the MACRS 7-year property class and for tax purposes will be depreciated using the MACRS tables. The tax savings due to the depreciation tax shield for the furniture in year 4 totaled $12,490 and the depreciation deduction for the furniture in year 3 amounted to $43,725. The present value of the tax savings due to the depreciation tax shield for the furniture in year 8 was $1,561. Calculate the present value of the tax savings due to the depreciation tax shield for the furniture in year 7. You will need to use both the present value table factors and the percentages from the MACRS tables posted in carmen to answer this question. To access these percentages and factors, click modules and then scroll to weeks 13 and 14. Click on the links labeled present value table factors and MACRS table percentages. No credit will be awarded for this question using a means other than these posted tables to answer this