National Industries purchased a new filling machine for $4,250,000 for its manufacturing plant and will depreciation the equipment for tax purposes using the MACRS table as follows:

Year 1 - 33.33%, Year 2 - 44.45%, Year 3 - 14.81% and Year 4 - 7.41%

The company has a tax rate of 25%. What would be the tax savings from depreciation in year 2?

Group of answer choices

no tax savings

$566,737

$472,281

$1,889,125