Establishment Industries borrows $890 million at an interest rate of 8.5%. Establishment will pay tax at an effective rate of 35%. What is the present value of interest tax shields if:

a. It expects to maintain this debt level into the far future? (Enter your answer in millions of dollars rounded to 1 decimal place.)

Present value $_____ million

b. It expects to repay the debt at the end of 5 years? (Enter your answer in millions of dollars rounded to 2 decimal places.) Present value $ ________million

c. It expects to maintain a constant debt ratio once it borrows the $890 million and rAssets = 10%? (Do not round intermediate calculations. Enter your answer in millions of dollars rounded to 2 decimal places.) Present value $ ____ million.