Gamma Inc. is planning on a new project. The project is going to last four years. The machinery relating to the project would cost $150,000 and has a CCA rate of 45%. The expected salvage of the machine is $20,000, and the asset class is going to remain after the machine is sold. The project requires an investment of $10,000 in net working capital. The project is expected to generate after-tax operating income of $80,000 per year. The cost of capital is 18% and the marginal tax rate is 40%. What is the present value of CCA tax shield?