Gringotts Industries pays it rest of $3 million each year on bonds with an average coupon rate of 7.5%. The firm has 4.7 million shares of stock outstanding and pays out 100%of earnings in dividends. Earnings per share (EPS) is $3.50. Gringotts's cost of equity is 13%. Calculate the firm's total value (the value of its debt plus that ofits equity) under the assumptions of Modigliani and Miller's simplest model (i.e., there are no taxes and no transactions costs in financial markets). (Hint: Use Equations Va=1/kd. Ve=D/ke, and V:=Va+V2.). Enter your answer in millions. For examples an answer of $1.25 million should be entered as 1.25. not 1250000. Do not round intermediate calculations. Round the answer to two decimal places