your company is considering a new project that will require $2 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 250,000 using straight-line depreciation. The cost capital is 12%, and the firms tax rate is 39%. Estimate the present value of the tax benefits from depreciation.

-$385,628

-$175,000

-$68,250

-$106,750