Please answer the given financial question based on the context.
Context: entergy arkansas , inc . management's financial discussion and analysis financing alternatives for any such spending , and future spending estimates could change based on the results of this continuing analysis . entergy's utility supply plan initiative will continue to seek to transform its generation portfolio with new or repowered generation resources . opportunities resulting from the supply plan initiative , including new projects or the exploration of alternative financing sources , could result in increases or decreases in the capital expenditure estimates given above . the estimated capital expenditures are subject to periodic review and modification and may vary based on the ongoing effects of regulatory constraints , market volatility , economic trends , environmental compliance , and the ability to access capital . management provides more information on long-term debt and preferred stock maturities in notes 5 and 6 to the financial statements . as a wholly-owned subsidiary , entergy arkansas pays dividends to entergy corporation from its earnings at a percentage determined monthly . entergy arkansas' long-term debt indentures restrict the amount of retained earnings available for the payment of cash dividends or other distributions on its common and preferred stock . as of december 31 , 2008 , entergy arkansas had restricted retained earnings unavailable for distribution to entergy corporation of $ 461.6 million . sources of capital entergy arkansas' sources to meet its capital requirements include : internally generated funds ; cash on hand ; debt or preferred stock issuances ; and bank financing under new or existing facilities . entergy arkansas may refinance or redeem debt and preferred stock prior to maturity , to the extent market conditions and interest and dividend rates are favorable . all debt and common and preferred stock issuances by entergy arkansas require prior regulatory approval . preferred stock and debt issuances are also subject to issuance tests set forth in entergy arkansas' corporate charters , bond indentures , and other agreements . entergy arkansas has sufficient capacity under these tests to meet its foreseeable capital needs . in april 2008 , entergy arkansas renewed its $ 100 million credit facility through april 2009 . the credit facility requires that entergy arkansas maintain a debt ratio of 65% ( 65 % ) or less of it total capitalization . there were no outstanding borrowings under the entergy arkansas credit facility as of december 31 , 2008 . in july 2008 , entergy arkansas issued $ 300 million of 5.40% ( 5.40 % ) series first mortgage bonds due august 2013 . entergy arkansas used a portion of the net proceeds to fund the purchase of the ouachita power plant on september 30 , 2008 , and the remaining net proceeds will be used to fund improvements relating to the ouachita power plant and for general corporate purposes . entergy arkansas' receivables from or ( payables to ) the money pool were as follows as of december 31 for each of the following years: .
|2008|2007|2006|2005|
|( in thousands )|( in thousands )|( in thousands )|( in thousands )|
|$ 15991|( $ 77882 )|$ 16109|( $ 27346 )|
in may 2007 , $ 1.8 million of entergy arkansas' receivable from the money pool was replaced by a note receivable from entergy new orleans . see note 4 to the financial statements for a description of the money pool. .
Question: what is the annual interest expense related to the series first mortgage bonds due august 2013 , in millions?


Answer: The answer is:16.2