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Jasmine's Boutique has 5,000 bonds outstanding with a face value of $1,000 each and a coupon rate of 8%. The interest is paid semi-annually. What

Jasmine's Boutique has 5,000 bonds outstanding with a face value of $1,000 each and a coupon rate of 8%. The interest is paid semi-annually. What is the PV of interest tax shield if the tax rate is 23%?

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$700,000

$1,125,000

$1,000,000

$1,150,000

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