Your Company is considering a new project that will require $100,000 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 $25,000 using straight line depreciation. The cost of capital is 11%, and the tax rate is 34%. Estimate the present value of the tax benefits from deprecation. $13, 607.52 $14, 841.29 $15, 017.54 $16, 997.13