Judson Industries is considering a new project. The project will initially require $$749,000$ for new fixed assets,

$$238,000$ for additional inventory, and $$25,000$ for additional accounts receivable. Accounts payable is

expected to increase by $$70,000.$ The fixed assets will belong in a $30\%$ CCA class. At the end of the project, in

four years' time, the fixed assets can be sold for $40\%$ of their original cost. The net working capital will return

to its original level at the end of the project. The project is expected to generate annual sales of $$944,000$ with

related cash expenses of $$620,000.$ The tax rate is $35\%$ and the required rate of return is $14\%.$

What is the amount of the present value of the CCA tax shield for this project? $($Use the AllP rule when

calculating the CCA Tax Shield. I.E use $1\mathrm{.}5$ instead of $0\mathrm{.}5)$

a$.$ $$104,860$

b$.$ $$112,290$

c$.$ $$125,432$

d$.$ $$147,383$

e$.$ $$199,600$