Effect of Interest Deduction Limitations: Using the information in the following schedule, calculate the

company's taxable income, income taxes due, interest tax shields, and the implied income tax rate for inter$-$

est. Assume the company's income tax rate on all income is $20\%,$ the tax deduction for interest in any year is

limited to $30\%$ of EBIT in that year, and any interest payment above the interest deduction cap in a year can

be carried forward indefinitely.