Orange is an cell phone manufacturer headquartered in the US with a subsidiary located in Bermuda Assume the U.S. has a 20% corporate tax rate and Bermuda has a 0% corporate tax rate. Orange has licensed all of its cell phone technology to the subsidiary. This past year, Orange made $10 million dollars in pre-tax profits in the US, and out of those profit also paid $4 million in licensing fees to its Bermuda subsidiary. How much LESS total corporate tax (in both countries) did Orange pay because it set up the tax haven subsidiary in Bermuda? In other words, what was the difference in tax pale with and without the subsidiary located in a tax haven? make your calculations as ifall money and taxes are in U.S. dollars; round to the nearest dollar