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Henkel issued debt at 0.5% interest rate in 2016. The total debt amount raised in the market was EUR 50 million and is expected to

Henkel issued debt at 0.5% interest rate in 2016. The total debt amount raised in the market was EUR 50 million and is expected to be carried forward in perpetuity. If the prevailing tax rate in Germany was 10%, what is the present value of interest tax shield for Henkel shareholders?

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