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Braxton Enterprises currently has debt outstanding of $ 25 and an interest rate of 8 %. Braxton plans to reduce its debt by repaying $5

Braxton Enterprises currently has debt outstanding of $ 25 and an interest rate of 8 %. Braxton plans to reduce its debt by repaying

$5 million in principal at the end of each year for the next five years. IfBraxton's marginal corporate tax rate is

40%, what is the interest tax shield fromBraxton's debt in each of the next fiveyears?

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