A company is considering a 5-year project that would require an asset with an installed cost of $5,000,000. The asset qualifies for a 20% CCA rate and is expected to have no salvage value at the end of the 5 years. The project would require a $320,000 up-front investment in net working capital and is expected to generate annual before-tax cost savings of $1,000,000. Assume the company requires a return of 13% and has a tax rate of 25%. What is the present value of the CCA tax shield? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. Numeric Response A company is considering a 5-year project that would require an asset with an installed cost of $5,000,000. The asset qualifies for a 20% CCA rate and is expected to have no salvage value at the end of the 5 years. The project would require a $320,000 up-front investment in net working capital and is expected to generate annual before-tax cost savings of $1,000,000. Assume the company requires a return of 13% and has a tax rate of 25%. What is the present value of the CCA tax shield? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. Numeric Response A company is considering a 5-year project that would require an asset with an installed cost of $5,000,000. The asset qualifies for a 20% CCA rate and is expected to have no salvage value at the end of the 5 years. The project would require a $320,000 up-front investment in net working capital and is expected to generate annual before-tax cost savings of $1,000,000. Assume the company requires a return of 13% and has a tax rate of 25%. What is the present value of the CCA tax shield? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. Numeric Response A company is considering a 5-year project that would require an asset with an installed cost of $5,000,000. The asset qualifies for a 20% CCA rate and is expected to have no salvage value at the end of the 5 years. The project would require a $320,000 up-front investment in net working capital and is expected to generate annual before-tax cost savings of $1,000,000. Assume the company requires a return of 13% and has a tax rate of 25%. What is the present value of the CCA tax shield? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. Numeric Response