c) Papas Pizza is contemplating the acquisition of some new commercial ovens. The purchase price is 38,000. The equipment will be depreciated based on MACRS (Modified Accelerated Cost-Recovery System) depreciation which allows for 30 percent, 44.44 percent, 14.80 percent, and 8.41 percent depreciation over years 1 to 4, respectively. The equipment will be worthless at the end of 4 years. The equipment can be leased for 12,500 a year. The firm can borrow money at 8 percent and has a 35 percent tax rate. What is the amount of the depreciation tax shield in year 3?