a) What is the interest tax shield for year 1? (round to 2 decimal places)

b) what is the interest tax shield for year 2? (round to 2 decimal places)

c) what is the interest tax shield for year 3? (round to 2 decimal places)

d) what is the interest tax shield for year 4? (round to 2 decimal places)

e) what is the interest tax shield for year 5? (round to 2 decimal places)

Braxton Enterprises currently has debt outstanding of $35 million and an interest rate of 8%. Braxton plans to reduce its debt by repaying $7 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 37%, what is the interest tax shield from Braxton's debt in each of the next five years