Burt's TVs has current liabilities of $24.4 million. Cash makes up 35 percent of the current assets and accounts receivable makes up another 15 percent of current assets. Burt's current ratio = 1.01 times. What is the value of inventory listed on the firm's balance sheet? (Do not round intermediate steps.)

Possible Answers:

$8.54 m

$3.7 m

$12.32 m

$50 m