Question: ECB borrows $200,000 USDs by issuing 4-year bonds. ECB's cost of debt is 5%, so it will need to pay $10,000 USDs in interest each

ECB borrows $200,000 USDs by issuing 4-year bonds. ECB's cost of debt is 5%, so it will need to pay $10,000 USDs in interest each year for the next 4 years, and then repay the principal $200,000 USD in year 4. ECB's marginal tax rate will remain 35% throughout this period. By how much (in USDs) does the interest tax shield increase the value of ECB? Note: Express your answers in strictly numerical terms. For example, if the answer is $500, enter 500 as an answer

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