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A major Australian bank has assets of $29 billion. After applying the regulator-stipulated risk weightings, the institution estimates total risk-weighted assets of $6.01 billion. Assuming

image text in transcribed A major Australian bank has assets of $29 billion. After applying the regulator-stipulated risk weightings, the institution estimates total risk-weighted assets of $6.01 billion. Assuming APRA's CET1 Ratio of 10.5\%, how much (\$millions) must be CET1 capital out of the Bank's total capital requirement? Express your answer in millions of dollars to two decimal places. Do not write "\$" and do not write "millions

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