Assuming no change in operating profit, what amount must be raised from shareholders?

CORRECT TEXT

A company generates operating profit of $17.2 million, and incurs finance costs of $5.7 million.

It plans to increase interest cover to a multiple of 5-to-1 by raising funds from shareholders to repay some existing debt. The pre-tax cost of debt is fixed at 5%, and the refinancing will not affect this.

Assuming no change in operating profit, what amount must be raised from shareholders?

Give your answer in $ millions to the nearest one decimal place.

$ ?

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Answer: 45.2