King, Incorporated, has debt outstanding with a face value of $$5\mathrm{.}6$ million. The value of the firm if it were entirely financed by equity would be $$25\mathrm{.}2$ million. The company also has $395,000$ shares of stock outstanding that sell at a price of $$52$ per share. The corporate tax rate is $21$ percent. What is the decrease in the value of the company due to

expected bankruptcy costs?