Ten years have passed since Arnell issued $14 million in perpetual interest only debt with a 5% annual coupon. Tax rates have remained the same at 21% but interest rates have dropped, so Arnell's current cost of debt capital is 3%. a. What is Arnell's annual interest tax shield? b. What is the present value of the interest tax shield today? a. What is Arnell's annual interest tax shield? The interest tax shield is $ million. (Round to three decimal places.) b. What is the present value of the interest tax shield today? The present value of the interest tax shield is $ million. (Round to two decimal places.)