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Braxton Enterprises currently has debt outstanding of $ 55 million and an interest rate of 6 % Braxton plans to reduce its debt by repaying

Braxton Enterprises currently has debt outstanding of $ 55 million and an interest rate of 6 % Braxton plans to reduce its debt by repaying $ 11 million in principal at the end of each year for the next five years. IfBraxton's marginal corporate tax rate is 30 % what is the interest tax shield fromBraxton's debt in each of the next fiveyears?

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