I get the right values when I multiply the annual depreciation expense by the tax rate, but get the incorrect values when I try to get the present value at 12%

A firm purchases a machine for $2,000,000 which has a class life of 3 years MACRS. The firm's cost of capital is 12 percent. When calculating operating cash flows, what is the present value of the tax benefits from depreciation, when the tax rate is 34%