Standard, Incorporated reported EBIT of $$35$ million for last year. Depreciation expense totaled $$20$ million and capital expenditures came to $$7$ million. Free cash flow is expected to grow at a rate of $6$ percent for the foreseeable future. Standard faces a $21$ percent tax rate and has a $\mathrm{.}40$ debt to equity ratio with $$120$ million $($market value$)$ in debt outstanding. Standard's equity beta is $1\mathrm{.}25,$ the risk$-$free rate is currently $5$ percent and the market risk premium is estimated to be $7\mathrm{.}5$ percent. What is the current value $($in millions$)$ of Standard's equity?

Multiple Choice

$$237\mathrm{.}34$

$$352\mathrm{.}42$

$$427\mathrm{.}42$

$$556\mathrm{.}79$

$$710\mathrm{.}85$