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Rappaport Industries has 5,200 perpetual bonds outstanding selling for $2,000 each. The tax rate is...

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Finance

Rappaport Industries has 5,200 perpetual bonds outstanding selling for $2,000 each. The tax rate is 40 percent. What is the present value of the interest tax shield? Multiple Choice

$241,280

$603,200

$4,160,000

$253,760

$3,744,000

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