ABC Inc. is an all equity firm. It will generate free cash flows of $4,800,000 per year in perpetuity. The company is going to borrow $19,000,000 and use the funds to buy back some of its outstanding stock. The only market imperfection is that companies must pay taxes. The corporate tax rate is 19.5%. The company's unlevered cost of equity is 9.3%. What will be the value of ABC Inc. once the debt has been issued and the shares have been repurchased. Your answer should be accurate to two decimal places.