Your company is considering a new project that will require $20,000 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 20 percent, and the firm's tax rate is 20 percent. Estimate the present value of the tax benefits from depreciation. O $1,758 O $ 1,896 O $2,453 O $2,392