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Suppose the corporate tax rate is 20%, and investors pay a tax rate of 15% on income from dividends or capital gains and a tax

Suppose the corporate tax rate is 20%, and investors pay a tax rate of 15% on income from dividends or capital gains and a tax rate of 0,32 % on interest income. Your firm decides to add debt to pay an additional $ 11,75 million in interest each year. It will pay this interest expense by cutting its dividend. How much will debt holders receive after paying taxes on the interest they earn?

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