Tax Shields. You are the CFO of a young firm. Youve decided to raise $20 million via an eight-year coupon bond with a coupon rate of 10 percent and retire $20 million in common stock. You dont expect your firm to have positive earnings in years 0 through 3 and you dont expect to be able to carry any unused tax shield forward. However, in years 4 through 8, you fully expect to benefit from the interest tax shield. What is the present value of the tax shield generated by issuing this bond assuming a tax rate of 40%? What is the present value of the tax shield generated by issuing this bond assuming a tax rate of 0%?