$59 million 19% 18% semi-annually 20 31% Consider the following company, Book Value of Debt IYTM Coupon Coupon Payments Years Corporate Tax Rate of Preferred Shares Price of Preferred Share Dividend per Preferred Shares # of Common Shares Price of Common Share B of Common Stock Risk-Free Rate Market Return 1.5 million $29 ||$1.09 10 million $18 10.5 3% 13% What is the market value of the debt? Enter your answer in terms of millions and rounded to 2 DECIMAL PLACES