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To finance its operations, SESP Pty has obtained a loan for $20 million. The loan is interest-only, and SESP plans to maintain the loan indefinitely

To finance its operations, SESP Pty has obtained a loan for $20 million. The loan is interest-only, and SESP plans to maintain the loan indefinitely into the future. If the interest rate on the loan is 6% per annum and SESP pays annual taxes of 30%, in millions of dollars what is the present value of its annual interest tax shields?

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