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Your firm is considering an expansion project which will require an investment of $40,000 in new equipment. This equipment will be depreciated straight line to

Your firm is considering an expansion project which will require an investment of $40,000 in new equipment. This equipment will be depreciated straight line to zero value over five years. If your firm's marginal corporate tax rate is 35%, then what is the value of the micro brewery's depreciation tax shield in the first year of operation?

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