ABC Inc. owns assets that will be worth $89,200,000 one year from now in the good state and the assets will be worth $15,200,000 one year from now in the bad state. The probability of the good state happening is 69%. The risk-free rate of interest is 3.3%. The required rate of return on ABC's assets is 9.4%. The company is operating in a perfect capital market. If ABC Inc. is an all equity financed company what is the current value of its equity. Your answer should be accurate to two decimal places. If ABC Inc. is an all equity financed company what is the current value of its equity. Your answer should be accurate to two decimal places.

ANSWER: $60,566,727.61