FinCorps free cash flow to the firm is reported as $285 million. The firms interest expense is $54 million. Assume the tax rate is 35% and the net debt of the firm increases by $6 million. What is the market value of equity if the FCFE is projected to grow at 5% indefinitely and the cost of equity is 10%? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Market value

$ million