Assume that Microsoft has a total market value of $$$$2$ comma $000$

billion and a marginal tax rate of $21\%$

$.$

If it permanently changes its leverage from no debt by taking on new debt in the amount of $13\mathrm{.}0\%$

of its current market$$ value, what is the present value of the tax shield it will$$ create?

Question content area bottom

Part $1$

The present value of the tax shield is $$$enter your response here

billion. $$