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Homework: Chapter 16 Homework Part 1 of O Points: 0 of 1 Braxton Enterprises currently has debt outstanding of $55 million and an interest cate of 10%. Braxton plans to reduce its debt by repaying $11 million in principal at the end of each year for the next five years. If Braxton's marginal corporate rate is 25%, 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 t million (Round to three decimal places) Braxton Enterprises currently has debt outstanding of $55 million and an interest rate of 10%. Braxton plans to reduce rate is 25%, 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.) > Part 1 of 5 Save O Points: 0 of 1 reduce its debt by repaying $11 million in principal at the end of each year for the next five years. If Braxton's marginal corporate t NETCRE