Spherical Manufacturing recently spent $11 million to purchase some equipment used in the manufacture of disk drives. This equipment has a CCA rate of 30% and Spherical's marginal corporate tax rate is 31%. What is the CCA tax shield for year 1? Assume the half-year rule applies.

a. $532,605

b. $578,202

c. $427,456

d. $511,500

e. $323,856

please show steps and calculations, thank you!