Question: 19. Highfield Enterprises is considering using debt to repurchase equity. The present value of the interest tax shield on the debt is expressed as: A.

19. Highfield Enterprises is considering using debt to repurchase equity. The present value of the interest tax shield on the debt is expressed as:

A. [EBIT (TC D)]/RA.

B. (TC D)/RA.

C. Tc D.

D. [EBIT (TC D)]/RU.

E. VU + (TC D).

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