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During the previous year, Leveraged inc. paid $100 million of interest expense, and its average rate of interest for the year was 8.0%. The company's

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During the previous year, Leveraged inc. paid $100 million of interest expense, and its average rate of interest for the year was 8.0%. The company's RoE is 14.5%, and it pays no dividends. Estimate next year's interest expense assuming that interest rates will fall by 26% and the company keeps a constant equity multiplier. Next year's estimated interest expense is $ (Round to the nearest dollar.)

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