5. Tax shields (S17-1) What is the relative tax advantage of corporate debt if the corporate tax rate is Tc = 0.21, the personal tax rate on interest is TpD = 0.37, but all equity income is received as capital gains and escapes tax entirely (TpE = 0)? How does the relative tax advantage change if the company decides to pay out all equity income as cash dividends that are taxed at 20%?