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Firm ABC has EBIT of $500,000 and a tax rate of 30%. The required rate of return on the unlevered equity is 11.12%. The firm

Firm ABC has EBIT of $500,000 and a tax rate of 30%. The required rate of return on the unlevered equity is 11.12%. The firm has $1 million in debt outstanding. Under MM with corporate taxes, what is the value of the tax shield? (answer in dollars and round to two decimal places)

9answer is 300,000)

what is the math?

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