You manage a$($tax$-$free$)$ pension fund that is invested in KOA Corporation.$$ KOA's managers have just announced that they unexpectedly generated an extra $$$$60$ million in cash flow this year. They are considering paying it out now as a special dividend or investing it in$$ one$-$year Treasury securities that will earn $1\mathrm{.}4\%$ interest over the next year. They would then distribute the $$$$60$ million plus interest earned as a special dividend. If KOA pays a $35\%$ corporate tax$$ rate, would you prefer they pay the $$$$60$ million as a special dividend now or wait a$$ year?

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Part $1$

If KOA pays the special dividend$$ immediately, you can then choose to invest in the same$$ one$-$year Treasury securities and earn $$$

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enter your response here million.$($Round to two decimal$$ places.$)$