If Julius has a 15% tax rate and a 9% after-tax rate of return, a $52,000 tax deduction in two years will save how much tax in today's dollars? Use Exhibit 3.1. (Round present and future value factor(s) to 3 decimal places.)

Multiple Choice

$52,000.

$6,568.

$43,784.

$7,800.

None of the choices are correct.