A company has 1,600,000 shares outstanding and pays tax at a rate of 18%. The company's stock has a beta of 1,35 and sells for $55 per share. T-bills pay 2.75% and the market risk premium is 9.25%. What is the company's market value of equity? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of 51,000.50 should be entered as 1000.50