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Newborn Nursery has 8,000 bonds outstanding with a face value of $1,000 each. The coupon rate is 6.5% and the tax rate is 40%. What

Newborn Nursery has 8,000 bonds outstanding with a face value of $1,000 each. The coupon rate is 6.5% and the tax rate is 40%. What is the present value of the interest tax shield? (Please show how you came up with thw answer - thank you)

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