Island Hotels, Inc. (IHI) forecasts that its free cash flow in the coming year, i.e., at t = 1, will be -$10 million (negative), but then its FCF will turn positive.At t = 2 IHI's FCF will be $35 million, and at t = 3 IHI's FCF will be $59 million.After Year 3, FCF is expected to grow at a constant rate of 5% forever.If IHI's weighted average cost of capital is 18%, what is the firm's value of operations, in millions?Enter your answer rounded to two decimal places.