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Your boss at Crane Company asks you how much additional debt the company would have to add through a capital restructuring in order to create

Your boss at Crane Company asks you how much additional debt the company would have to add through a capital restructuring in order to create $8.8 million in present value from the resulting interest tax shields. What will you tell your boss if the debt will have no maturity and if Crane is subject to a 32 percent marginal tax rate? (Enter cinount in dollors)
Present value of Crane's additional debt $
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