Your Company is considering a new project that will require $600,000 of new equipment at the start of the project. The equipment will have a depreciable life of 8 years and will be depreciated to a book value of $200,000 using straight-line depreciation. The cost of capital is 14%, and the firm's tax rate is 21%. Estimate the present value of the tax benefits from depreciation. Multiple Choice $10.500 $39.500 O O $50.000 $48,708