The capital structure of BlueScope Steel $($BSC$)$ is $90\%$ equity and $10\%$ debt.

BSC$\text{'}$s return on equity and before$-$tax return on debt are Re $=10\mathrm{.}4\%$ and

Ra

$-7\mathrm{.}5\%,$ respectively, and its effective tax rate is Tc

$28\%.$ Suppose the

FF for BSC is forecasted to be $$992\mathrm{.}48$ million in the next year, and its FCFs

are expected to grow at $4\mathrm{.}6\%$ per year, in perpetuity. Assuming no financial

distress costs, what is the present value of BSC$\text{'}$s debt tax shield? $($Express your

answer as a number rounded to two decimal places, in units of a million dollars.

For example, if the present value of the debt tax shield is $$123\mathrm{.}456$ million, you

should enter $123\mathrm{.}46$ as your answer.$)$