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Licorne Inc. is considering a project which would involve the purchase of new manufacturing equipment at...

Licorne Inc. is considering a project which would involve the purchase of new manufacturing equipment at a cost of $8464. The equipment would be depreciated on a straight-line basis to a book value of $743 over its 8-year useful life. The firm's marginal tax rate is 35%. The amount of the annual depreciation tax shield that should be included as part of the project's cash flows would be $_______. Round your final answer to 2 decimal places (example: if your answer is 12.3456, you should enter 12.35).

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