1. Cold Soft Drinks Inc recently spent $15 million to purchase some equipment used in their production process. This equipment has a CCA rate of 25% and the firm's marginal corporate tax rate is 35%. If the appropriate discount rate is 10% per year, the present value of the first five CCA tax shields is closet to:
2. a)$2.93 million
3. b)$3.19 million
4. c)$3.23 million
5. d)$3.51 million