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Your fim currently has $116 millon in debt outstanding with a 7% interest rase. The terms of the loan require the firm $ repay $29

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Your fim currently has $116 millon in debt outstanding with a 7% interest rase. The terms of the loan require the firm $ repay $29 milion of the balance each year. Suppose that the marginal corporate tax rate is 30%, and that the interest tax shields have the same risk as the loan. What is the presont value of the interest tax shieids from this debr? The present valise of the kterest lax shields is 1 milion. (Round to two decimal places)

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