A property's NOI is $13M, and its depreciation expense is $4M. The property owner's marginal corporate income
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A property's NOI is $13M, and its depreciation expense is $4M. The property owner's marginal corporate income tax rate is 30%. When a $100M, 5%, interest-only loan is used to fund part of the investment,what is the annual amount of the interest tax shield (ITS)?
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