Kirksville Kanyon is financed with 80% debt and paid taxes at 35% in 2019. Given an upcoming transition in regulatory policy, it was just announced that Kirksville will be considered a tax-exempt entity in 2020 before returning to taxable status in 2021. All else equal, at this announcement, what will happen to the present value of Kirksville's tax shields? PV Tax Shields increases PV Tax Shields decreases PV Tax Shields does not change Quiz saved at 10:50pm Submit Oui