Problem $9-21$ Salvage Value $($LO$3)$

Quick Computing installed its previous generation of computer chip manufacturing equipment $3$ years ago. Some of that older equipment will become unnecessary when the company goes into production of its new product. The obsolete equipment, which originally cost $$40$ million, has been depreciated straight$-$line over an assumed tax life of $5$ years, but it can be sold now for $$18$ million. The firm's tax rate is $30\%.$ What is the after$-$tax cash flow from the sale of the equipment?

Note: Enter your answer in millions rounded to $2$ decimal places.