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Establishment Industries borrows $400 million at an interest rate of 6%. It expects to maintain this debt level into the far future. Establishment will pay

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Establishment Industries borrows $400 million at an interest rate of 6%. It expects to maintain this debt level into the far future. Establishment will pay tax at an effective rate of 34%. What is the present value of interest tax shields? (Round your answer to the nearest cent.) Present value of interest tax shields $ million

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