Score: 0 of 1 pt 5 of 13 (0 complete) HW Score: 0%, 0 of 23 pts P15-9 (similar to) Question Help o Safeco Inc. has no debt, and maintains a policy of holding $14 million in excess cash reserves, invested in risk-free Treasury securities. If Safeco pays a corporate tax rate of 31%, what is the cost of permanently maintaining this $14 million reserve? (Hint: What is the present value of the additional taxes that Safeco will pay?) The cost of permanently maintaining this reserve is Million. (Round to two decimal places, Enter the expenses as a negative number.) Enter your answer in the answer box and then click Check Answer. ? All parts showing Clear All Check