Max industries is planning to invest in a number of projects during the next fiscal year. Given they substantial capital investment, the board of directors have assigned you with finding the break points in their capital structure so that in the future they calculate properly the cost of capital. The firm can borrow up to $49,017,843 in new debt before the interest rate increases; the firm can then borrow any amount at the higher rate. Taxes are 30% and debt is 38% of the target capital structure. In addition, there will be retained earnings of $20,165,472 available at the end of this fiscal year. The firm does not use preferred equity. Calculate the break point in the MCC schedule for Common Equity. Enter your answer in the box below, to the nearest penny