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Company A has $14,445,195 in permanent debt outstanding. The firm will pay interestonly on this debt. The firm's marginal tax rate is expected to be

Company A has $14,445,195 in permanent debt outstanding. The firm will pay interestonly on this debt. The firm's marginal tax rate is expected to be 41% for the foreseeable future. Suppose that the firm pays interest of 6.13% per year on its debt.

What is the present value of the interest tax shield, assuming its risk is the same as the loan?

NOTE:Submit your answers with 4decimals after thedot.

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