Time Watch Corporation has $75 million in earnings and is considering paying $8.50 million in interest to bondholders and $6.75 million to preferred stockholders in dividends. Use Table 17-4.

What are the bondholders' contractual claims to payment? Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places (e.g., $1.23 million should be entered as "1.23").