need asap finance major. please answer all questions

Arnell Industries has just issued $ 10million in debt(at par). The firm will pay interest only on this debt.Arnell's marginal tax rate is expected to be 35 %for the foreseeable future.

a. Suppose Arnell pays interest of 6 %per year on its debt. What is its annual interest taxshield?

b. What is the present value of the interest taxshield, assuming its risk is the same as theloan?

c. Suppose instead that the interest rate on the debt is 5 %. What is the present value of the interest tax shield in thiscase?

a. Suppose Arnell pays interest of 6 % per year on its debt. What is its annual interest taxshield?

If Arnell pays interest of 6 % per year on itsdebt, the annual interest tax shield is $______ million. (Round to three decimalplaces.)