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Braxton Enterprises currently has debt outstanding of $20 million and an interest rate of 8%. Braxton plans to reduce its debt by repaying $4 million

Braxton Enterprises currently has debt outstanding of $20 million and an interest rate of 8%. Braxton plans to reduce its debt by repaying $4 million in principal at the end of each year for the next five years.IfBraxton's marginal corporate tax rate is 35%, what is the interest tax shield from Braxton's debt in each of the next five years?

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