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Answer (A) is correct . Gunning uses straight-line depreciation. Thus, the annual charge is $38,000 [($160,000 + $30,000) ¡Â 5?years], and the tax savings is $15,200 ($38,000 ¡Á 40%). That benefit will be received in 1 year, so the present value is $13,817 ($15,200 tax savings ¡Á .909 present value of $1 for 1 year at 10%).<
Answer (B) is incorrect because The amount of $16,762 is greater than the undiscounted tax savings.
Answer (C) is incorrect because The amount of $20,725 assumes a 60% tax rate (the complement of the actual 40% rate).
Answer (D) is incorrect because The amount of $22,800 assumes a 60% tax rate and no discounting.