A company has 3,200,000 shares outstanding that sell for $15.25 per share. The company's stock has a beta of 1.6. Assume the market risk premium is 9.25%, the risk-free rate is 1.75%, and the corporate tax rate is 20%. What is this 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 $1,000.50 should be entered as 1000.50. Numeric Response