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A company has 800,000 shares of stock outstanding that sell for $15.25 per share. The company has a beta of 1.15. Assume the risk-free rate

A company has 800,000 shares of stock outstanding that sell for $15.25 per share. The company has a beta of 1.15. Assume the risk-free rate is 3%, the market risk premium is 7%, and the corporate tax rate is 35%. What is the market value of this companys equity?

round to 2 decimals

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