Raymond Supply, a national hardware chain, is considering purchasing a smaller chain, Strauss & Glazer Parts (SGP). Raymond's analysts project that the merger will result in the following incremental free cash flows, tax shields, and horizon values:

Year	1	2	3	4
Free cash flow	$20.00	$25.00	$30.00	$35.00
Unlevered horizon value				$366.00
Tax shield	$2.10	$2.20	$2.30	$2.40
Horizon value of tax shield				$25.00

Assume that all cash flows occur at the end of the year. SGP is currently financed with 25% debt at a rate of 10%. The acquisition would be made immediately, and if it is undertaken, SGP would retain its current debt and issue enough new debt to continue at the 25% target level. The interest rate would remain the same. SGP's pre-merger beta is 2.0, and its post-merger tax rate would be 25%. The risk-free rate is 8% and the market risk premium is 4%. Using the compressed adjusted present value approach, what is the value of SGP to Raymond? (Show your answer in millions of dollars.)