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Milton Industries expects free cash flows of $11 million each year. Milton's corporate tax rate is 22%, and its unlevered cost of capital is 14%.

Milton Industries expects free cash flows of $11 million each year. Milton's corporate tax rate is 22%, and its unlevered cost of capital is 14%. Milton also has outstanding debt of $21.85 million, and it expects to maintain this level of debt permanently. What is the value of Milton Industries? Express your answer in $ million with two decimals.

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