Your Company is considering a new project that will require $540,000 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 $100,000 using straight-line depreciation. The cost of capital is 13%, and the firm's tax rate is 21%. Estimate the present value of the tax benefits from depreciation. Multiple Choice O $44,000 $9,240 O $50,138 O O $34,760