Remaining Time: $01$:$11$:$36$

Simple VaR time transform

A commodity$-$trading firm has a portfolio with a $29-$day Value at Risk $($VaR$)$ of $$9$ million. What would be an appropriate translation of this VaR to a $23-$day horizon under normal conditions?

$ million

Round your answer to two decimal places. Ignore the negative sign.