Your Company is considering a new project that will require $590,000 of new equipment at the start of the project. The equipment will have a depreciable life of 9 years and will be depreciated to a book value of $149,000 using straight-line depreciation. The cost of capital is 13%, and the firm's tax rate is 21%. Estimate the present value of the tax benefits from depreciation. Multiple Choice 0 $38,710 0 $49,000 0 $52,805 0 $10,290