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Hello inc expects free cash flow of $5 million each year. Hello incs corporate tax rate is 35%, and its unlevered cost of capital is

Hello inc expects free cash flow of $5 million each year. Hello incs corporate tax rate is 35%, and its unlevered cost of capital is 11%. The firm also has outstanding debt of $19.05 million, and it expects to maintain this level of debt permanently. What is the value of Milton Industries, including the tax shield?

(Form the result in millions and round the result to the second decimal place, if necessary.)

(Hint: You dont need the after-tax WACC here.)

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