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What is the value of the tax shield if the value of the firm is $5 million, its value if unlevered would be $4.78 million,

What is the value of the tax shield if the value of the firm is $5 million, its value if unlevered would be $4.78 million, and the present value of bankruptcy and agency costs is $360,000?

a) $140,000

b) $220,000

c) $360,000

d) $580,000

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