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 5 years and will be depreciated to a book value of $7,000 using straight-line depreciation. The cost of capital is 9%, and the firm's tax rate is 21%. Estimate the present value of the tax benefits from depreciation. Multiple Choice $546 O $2,124 $2,054 O O O $2,600