The Fritz Electric Company replaced an old machine \ 8\ years ago with a new one.\ They sold the new machine today for $\ 2\ 5\ 0\ ,\ 0\ 0\ 0\ .\ If Fritz had kept the old machine, it could have been sold for $\ 1\ 5\ 0\ ,\ 0\ 0\ 0\ today. The incremental undepreciated capital cost is $\ 3\ 0\ 0\ ,\ 0\ 0\ 0\ .\ The tax rate is \ 4\ 5\ %\ .\ The depreciation rate for the machines is \ 3\ 0\ %\ ,\ and Fritz's cost of capital is \ 1\ 0\ %\ .\ What is the present value of the incremental tax shields associated with selling the new machine?