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Suppose a project financed via an issue of debt requires five annual interest payments of $12 million each year. If the tax rate is 25%

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Suppose a project financed via an issue of debt requires five annual interest payments of $12 million each year. If the tax rate is 25% and the cost of debt is 7%, what is the value of the interest rate tax shield? A. $12.30 million B. $24.60 million C. $9.84 million D. $14.76 million

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