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Your firm currently has $ 8 8 million in debt outstanding with a nbsp 7 % interest rate. The terms of the loan require the

Your firm currently has $ 88 million in debt outstanding with a nbsp 7% interest rate. The terms of the loan require the firm to repay $ 22 million of the balance each year. Suppose the marginal corporate tax rate is 30% and that the interest tax shields have the same risk as the loan. What is the present value of the interest tax shields from this debt?
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