Your company is considering a new project that will require $$1$ million of new equipment at the start of the project. The equipment will have a depreciable life of $10$ years and will be depreciated to a book value of $$150,000$ using straight$-$line depreciation. Neither bonus depreciation nor Section $179$ expensing will be used. The cost of capital is $13$ percent, and the firm$$s tax rate is $21$ percent. Estimate the present value of the tax benefits from depreciation. You must use the built$-$in Excel function to answer this question. All answers should be displayed as positive numbers. What is the built in Excel function for Present Value? The answer should be around $$96,858.$ The last $2$ experts have not been correct.