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Petra, Inc. paid $24,437.50 in interest expense on its long-term debt. If Petra's average tax rate is 35%, what was the tax savings on this

Petra, Inc. paid $24,437.50 in interest expense on its long-term debt. If Petra's average tax rate is 35%, what was the "tax savings" on this interest expense? (round your answer to the nearest dollar.) $23,555 $15,885 $8,553 $24,438

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