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Your firm's pro formas for next year include depreciation of $39 million, interest expense of $68 million and net income of $415 million. The cost
Your firm's pro formas for next year include depreciation of $39 million, interest expense of $68 million and net income of $415 million. The cost of debt is 4% and the tax rate is 40%. What is the dollar amount in interest tax savings next year? Round your answer to the nearest million.
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