Braxton Enterprises currently has debt outstanding of

$65

million and an interest rate of

7%.

Braxton plans to reduce its debt by repaying

$13

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

35%,

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

$nothing

million. (Round to three decimal places.)