Help and explanation finding PV

Hawar International is a shipping firm with a current share price of $5.32 and 10.1 million shares outstanding. Suppose that Hawar announces plans to lower its corporate taxes by borrowing $19.7 million and repurchasing shares, that Hawar pays a corporate tax rate of 30%, and that shareholders expect the change in debt to be permanent. Suppose the only imperfections are corporate taxes and financial distress costs. If the share price rises to $5.57 after this announcement, what is the PV of financial distress costs Hawar will incur as the result of this new debt