How much debt is outstanding in a firm that has calculated


How much debt is outstanding in a firm that has calculated the present value of a perpetual tax shield to be $3,144 if the tax rate is 22.3% and the debt carries a 4.1% rate of return? Show your answer to the nearest $1. Do not use the $ or , signs in your answer.

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Financial Management: How much debt is outstanding in a firm that has calculated
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