Kellogg Company has expected earnings before interest and taxes of $960,000, an unlevered cost of capital of 9.8 percent, and a tax rate of 25 percent. The company has $3,600,000 of debt that carries a 5.8 percent coupon. The debt is selling at par value. Assume the firm maintains this debt amount forever. What is the interest tax shield of the firm in a given year? What is the value of the firm?

		$48,050 and $8,714,220
		$48,050 and $8,566,262
		$48,050 and $8,246,939
		$52,200 and $8,246,939
		$52,200 and $8,566,262