  Using Supergravity on $AdS_7\times S^4$ we calculate the bulk one-loop
contribution to the conformal anomaly of the (2,0) theory describing $N$
coincident M5 branes. When this is added to the tree-level result, and an
additional subleading order contribution calculated by Tseytlin, it gives an
expression for the anomaly that interpolates correctly between the large $N$
theory and the free (2,0) tensor theory corresponding to N=1. Thus we can argue
that we have identified the exact $N$-dependence of the anomaly, which may have
a simple protected form valid away from the large $N$ limit.
