A company is developing a new drug to treat Type II Diabetes. The company has just successfully completed stage 2 clinical trials. The following are key facts:

The likelihood of success in stage 3 clinical trials is 35%.

Stage 3 will last 2 years.

The cost of stage 3 clinical trials at the beginning of stage 3 is $20 million.

If the drug passes stage 3 clinical trials, its NPV of commercialization at the start of commercialization is $20 million.

If a 10% discount rate is applied, what is the NPV of the drug at the start of stage 3 trials? Express your answer in millions to the closest tenth of a million e.g.$4.5 million should be expressed as 4.5