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10:21 AM / Remaining: 56 min. PRINTER VERSION BACK NEXT Question 12 Interest tax shield benefit: Springer Ltd has $387 million of debt outstanding at

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10:21 AM / Remaining: 56 min. PRINTER VERSION BACK NEXT Question 12 Interest tax shield benefit: Springer Ltd has $387 million of debt outstanding at an interest rate of 12 percent. If the debt has no maturity and Springer is subject to a 33 percent tax rate, the present value of the debt tax shield is (Round answer to nearest dollar. Omit s sign in answer.)

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