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Your firm currently thas $60 million in debt outstanding with a 6% interest rate. The terms of the loan require it to repay $15 thalion

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Your firm currently thas $60 million in debt outstanding with a 6% interest rate. The terms of the loan require it to repay $15 thalion of the balance each year. Suppose the marginal corporate tax rate is 25%, and that the interest tax shields have the same fisk as the loan, What is the present value of the interest tax shields from this debt? The present value of the interest tax shields is 8 million (Round to two decimal places)

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