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Braxton Enterprises currently has debt outstanding of $65 million and an interest rate of 6% . Braxton plans to reduce its debt by repaying $13
Braxton Enterprises currently has debt outstanding of $65 million and an interest rate of 6% . 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 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
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