Consider a project with free cash flows in one year of $$145,000$ or $$192,000,$ with each outcome being equally likely. The initial investment required for the project is $ $110,000$ and the project's cost of capital is $14\%.$ The risk$-$free interest rate is $4\%.$

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Suppose that to raise the funds for the initial investment, the project is sold to investors as an all$-$equity firm. The equity holders will receive the cash flows of the project in one year. How much money can be raised in this way $-$that is$,$ what is the initial market value of the unlevered equity?