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Eureka has no debt on its balance sheet in 2020, but paid $1.6 million in taxes. Assume Eureka's marginal tax rate is 25% and Eureka's

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Eureka has no debt on its balance sheet in 2020, but paid $1.6 million in taxes. Assume Eureka's marginal tax rate is 25% and Eureka's after tax borrowing cost is 4.5%. If Eureka were to issue permanent debt to reduce its taxes by $1 million per year forever, then the amount that Eureka needs to borrow is O $88.9 million O $66.7 million O $22.2 million O $35.6 million

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