Axon Industries needs to raise $23.64M for a new investment project. If the firm issues one-year debt, it may haveto pay an interest rate of 8.94 %, although Axon's managers believe that 4.38 % would be a fair rate given the level of risk. If the firm issues equity, they believe the equity may be underpriced by 10.45 %. What is the cost to current shareholders of financing the project out of Equity?

Provide your answers in Millions. E.G. for 100M you must enter 100.0000, for 20M you must enter 20.0000, etc.