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Braxton Enterprises currently has debt outstanding of $35 million and an interest rate of 7%. Braxton plans to reduce its debt by repaying $7 million

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Braxton Enterprises currently has debt outstanding of $35 million and an interest rate of 7%. Braxton plans to reduce its debt by repaying $7 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 40%, what is the interest tax shield from Braxton's debt in each of the next five years? The interest tax shield in year one is $ million (Round to three decimal places.) The interest tax shield in year two is $ million. (Round to three decimal places.) The interest tax shield in year three is $ million (Round to three decimal places.) The interest tax shield in year four is 5 million. (Round to three decimal places.) The interest tax shield in year five is million. (Round to three decimal places.)

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