Triumph Partners closed Triumph Fund III four year ago with committed capital of $150 million. They have so far invested $120 million. The limited partnership agreement is settled based on a management fee of 2.5% and a carried interest of 20 %. Last year (i.e. year 3 of the fund's life), the general partners distributed $85 million to the limited partners for the first time. This year (year 4), they have distributed another $75 million. Assume that committed capital is the basis for calculating profit. The limited partnership agreement specifies that partners can collect carry once committed capital is returned to LPS and a priority return (hurdle) rate of 5% (this hurdle rate is NOT a per annum hurdle) is met. A 100% catch-up provision also applies. If there is no further distribution this year and the distribution for next year (year 5) is expected to be positive $10.5 million, what is the amount of carried interest that the general partners can expect to earn next year? Please answer in millions of dollars to two decimal places (e.g. $1,500,000 should be entered as 1.50) F