Braxton Enterprises currently has debt outstanding of $60 million and an interest rate of 9%. Braxton plans to reduce its debt by repaying $12 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 25%, 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.) Braxton Enterprises currently has debt outstanding of $60 million and an interest rate of 9%. Braxton plans to reduce its debt by repaying $12 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 25%, 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.)