For the year 2021, the following were different tax rates: Corporate tax rate: 21% Average Personal Tax Rate on Equity Income: 20% Average Personal Tax Rate on Interest Income: 37% Calculate the effective tax advantage of debt for the year 2021. O 0.64% 0 -0.32% O 2.86% O 16.56% WLC Co. projects its' free cash flow to be $5 million next year and is expected to grow at a rate of 5% every year. WLC's equity cost of capital is 10% and the debt cost of capital is 6%. Further, it pays a corporate tax rate of 21%. If WLC maintains a debt- equity ratio of 1.5, what is the value of its interest tax shield? O $78.84 million O $102.65 million $56.64 million $207.80 million Ncell Inc. is planning to restructure its capital structure and has decided that it will use $2 billion debt for ten years and borrows at a risk-free rate of 5%. It will pay interest annually for the next ten years, and then repay the principal of $2 billion at the end of year 10. The marginal tax rate will remain 21% for the entire period. We are aware that the use of leverage increases the value of a firm. In this case, how much does the interest tax shield increase the value of Ncell Inc.? $204.87 million O $162.16 million 0 $148.56 million $154.46 million