Question: Based solely on the information provided in the fact pattern below, what is the dollar value of the cumulative Preferred PIK Dividend available for distribution

Based solely on the information provided in the fact pattern below, what is the dollar value of the cumulative Preferred PIK Dividend available for distribution to Preferred Equity holders at closing? Your answer should be presented in $ millions, rounded to the nearest tenth. Ebitda at close: $23.5 Exit Multiple: 7.5x Investment Hold Period: 5 years Liquidation Preference: 1.5x Preferred Annual Dividend: 10.0% Target Balance Sheet Items Cash: 7.5 Revolver: 5.5 Senior Debt: 75.0 Preferred Equity: 65.0 $0.0 $5.8 $7.5 $39.7 $97.5

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