Ramsey Construction is considering the purchase of a backhoe for £300,000. The expected life is 4 years. The company uses the straight-line method of depreciation with no mid-year convention. The company's tax rate is 34 per cent. The present value factors at the company's cost of capital are as follows: 
Required:
Determine the present value of the tax shield (i.e. tax benefits) assuming that capital allowances are based on the straight-line method. Present your answer in good format.
Definitions:
Infant Memory
The capacity of infants to retain information and form memories, which is essential for developmental milestones such as recognizing caregivers and learning language.
Womb Experiences
The conditions and stimuli an individual is exposed to while in the mother's uterus, which can influence development and health.
Dramatic Improvements
Significant positive changes or advancements in a situation or condition, often exceeding expectations.
Development Slows
A period or situation in which the pace of physical, emotional, or intellectual growth decreases or is less rapid than expected.
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