tonewall Corp. is assessing the investment in a project that requires new equipment at a cost of $$1,400,000.$ The equipment is in a class with a $50\%$ CCA rate. However, this equipment will qualify for the $100\%$ full expensing in the year of acquisition. At the end of nine years, the equipment will have a salvage value of $$300,000.$ Stonewall has decided to use an $8\%$ cost of capital for this project, and its income tax rate is $26\%.$ It is assumed that the UCC balance is positive after the proceeds on salvage.

Which one of the following is the PV of the net CCA tax shield that relates to the purchase and sale of this equipment?

A$.$ $$269,796$

B$.$ $$279,655$

C$.$ $$303,400$

D$.$ $$370,674$