please answer both parts, they go together

Braxton Enterprises currently has debt outstanding of $60 million and an interest rate of 9%. Braxton plans to reduce its debt by repaying $12 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 35%, what is the interest tax shield from Braxton's debt in each of the next five years? The interest tax shield in year one is $ million. (Round to three decimal places.) Summit Builders has a market debt-equity ratio of 0.75, a corporate tax rate of 40%, and pays 7% interest on its debt. By what amount does the interest tax shield from its debt lower Summit's WACC? WACC is lowered by \%. (Round to two decimal places.)