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.

$ millions

EBITDA at Close $$23\mathrm{.}5$

Exit Multiple $7\mathrm{.}5$x

Investment Hold Period $5$ years

Liquidation Preference $1\mathrm{.}5$x

Preferred Annual PIK Dividend $10\mathrm{.}0\%$

Target Balance Sheet Items:

Cash $7\mathrm{.}5$

Revolver $5\mathrm{.}5$

Senior Debt $75\mathrm{.}0$

Preferred Equity $($Excl$.$ Dividend$)65\mathrm{.}0$