Im not sure how to calculate the various tax shields for each problem

1. (20%) Ill: ShieldValue Tom's Trucking. Inc. (T11) is unrently all-equity nanced. with r: = 1096. They are considenngaddlngSZSmlionindebt. 'I'neyantlclpateacostofdebtofS'is. Calculate the present value of the tax shield associated with this debt nancing under the following assumptions: 1) (6 points) Debt will be kept outstmding at a xed level perpemally, 1'.- = 35%. ignore persona] taxes. 2) (8 points) Debt will be kept outstanding perpemally, but 111 will adjust their debt level to maintain their cum DN ratio, \"I:c = 35%. ignore personal taxes. 3) (6 points) Debt will be kept outstanding at a xed level perpetually, 1; = 35%, t; = 35%, 1:. = 15%