Your company is considering a new project that will require $10,000 of new equipment at the start of the project The equipment will have a depreciable life of five years and will be depreciated to a book value of zero using straight-line depreciation. The cost of capital (discount rate) is 10 percent, and the firm's tax rate is 10 percent. Estimate the present value of the tax benefits from depreciation. O $1,054 $899 $758 O $702