Suppose Shonky Airlines Ltd (SA) seeks a bridging loan for three years. The loan is for $173. The interest rate on the debt is 15%. This is above the firm's normal cost of debt for an unsecured loan, which is 7.4%, and which SA expects to be the cost of debt going forward. What is the present value of the debt tax shield if the tax rate is 19%.

Assume interest rates are expressed as annual percentages and interest is annual.