Tool Manufacturing has an expected EBIT of $32,000 in perpetuity, and a tax rate of 35 percent. The firm has $74,000 in outstanding debt at an interest rate of 10 percent, and its unlevered cost of capital is 15 percent. The value of the leverage firm (VL) is $ according to M\&M Proposition I with taxes. (Do not Include the dollar sign (\$). Round your answer to 2 decimal places. (e.g., 32.16))