Compute the present value of interest tax shields generated by these three debt issues. Consider corporate taxes only. The marginal tax rate is T_c = 0.40.

a.	A $2,400, one-year loan at 7%.(Do not round intermediate calculations. Round your answer to 2 decimal places.) PV (tax shield)____________$

b.	A three-year loan of $2,400 at 7%. Assume no principal is repaid until maturity. (Do not round intermediate calculations. Round your answer to 2 decimal places.) PV (tax shield)____________$

c.	A $2,400 perpetuity at 6%. PV (tax shield)____________$