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Braxton Enterprises currently has debt outstanding of $ 5 million and an interest rate of 10 %.
Braxton Enterprises currently has debt outstanding of $ 5 million and an interest rate of 10 %. Braxton plans to reduce its debt by repaying $ 1 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 40 %, what is the interest tax shield from Braxton's debt in each of the next five years?
The interest tax shield in year one is $___ Million. (Round to three decimal places.)
The interest tax shield in year two is $___Million. (Round to three decimal places
The interest tax shield in year three is $___Million. (Round to three decimal places)
The interest tax shield in year four is $___Million. ( Round to three decimal places)
The interest tax shield in year five is $___Million. (Round to three decimal places)
