During the previous year, Leveraged Inc. paid $119 million of interest expense, and its average rate of interest for the year was 8.0%. The company's ROE is 11.1 %, and it pays no dividends. Estimate next year's interest expense assuming that interest rates will fall by 24% and the company keeps a constant equity multiplier. Question content area bottom Part 1 Next year's estimated interest expense is $ enter your response below. (Round to the nearest dollar.)