Aruba Sunset Enterprises expects to have free cash flow in the coming year of $20 million, and this free cash flow is expected to grow at a rate of 5% per year thereafter. The company has an equity cost of capital of 14%, a debt cost of capital of 6%, and it is in the 35% corporate tax bracket. Assume that the only market imperfection is corporate taxes. If the current debt-to-equity ratio is 0.8, then the value of Aruba Sunsets interest tax shield is:

$19 million

$76 million

$221 million

There is not enough information.

$124 million

$48 million