Miller Company has expected earnings before interest and taxes of $1,250,000, an unlevered cost of capital of 10.6 percent, and a tax rate of 25 percent. The company has $2,800,000 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?