Consider a company that is currently all-equity financed and expects to operate in perpetuity with FCF that are expected to grow at the constant rate of 3.7%. The company's expected EBIT for next year is $1.3M (M=million) and the expected return of its equity is 10.8%. The current corporate tax rate is 24%. The government unexpectedly announces that the corporate tax rate will go up to 43% starting from next year. To compensate for the higher taxes, the company decides to exploit the tax advantage of debt by issuing permanent debt and buying back existing equity shares. Q: How much permanent debt should the company raise to keep the firm value unchanged (that is, equal to the firm value before the change in the tax rate)? Report your answer in million (M) and round it to 2 decimal places