our firm is considering a project that would require purchasing $7.5 million worth of new equipment. Determine the present value of the depreciation tax shield associated with this equipment if the firms tax rate is 40%, the appropriate cost of capital is 8%, and the equipment can be depreciateda.Straight-line over a 10-year period, with the first deduction starting in one year.b.Straight-line over a five-year period, with the first deduction starting in one year.c.Using MACRS depreciation with a five-year recovery period and starting immediately.d.Fully as an immediate deduction.