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Al-Biruni Inc, borrowed $11 millions at the beginning of 2022 with an annual interest rate of 8.4%. The EBIT recorded for that yeat was $2.0

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Al-Biruni Inc, borrowed $11 millions at the beginning of 2022 with an annual interest rate of 8.4%. The EBIT recorded for that yeat was $2.0 million; and tax percentage for the company was 35%. Calculate the INTEREST TAX SHIELD for the company for the year 2022

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