Your Company is considering a new project that will require $780,000 of new equipment at the start of the project. The equipment will have a depreciable life of 7 years and will be depreciated to a book value of $38,000 using straight-line depreciation. The cost of capital is 11%, and the firm's tax rate is 40%. Estimate the present value othe tax benefits from depreciation. Multiple Choice $42,400 $106,000 $199,797 88s command option