An all-equity company's cost of capital is 12.2 per cent and its value is $10 million. The company is paying 40 per cent tax. The company reduces half of its equity by taking an equal amount of debt. The yield to maturity of the debt is 11.8 per cent. What is the new value of the company?

[Important: Write the final answer in million-dollar using number only, rounded to two decimal places. For example, if the answer is $12.345 million, write only '12.35'.]