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Your firm currently has $ 9 2 million in debt outstanding with a 7 % interest rate. The terms of the loan require the firm

Your firm currently has $92 million in debt outstanding with a 7% interest rate. The terms of the loan require the firm to repay $23 million of the balance each year. Suppose the marginal corporate tax rate is 40% 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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