Tool Manufacturing has an expected EBIT of $36.000 in perpetuity, and a tax rate of 36 percent. The firm has $64,000 in outstanding debt at an interest rate of 11 percent, and its unlevered cost of capital is 12 percent. The value of the leverage firm (VL ) is $ according to M\&M Proposition I with taxes. (Do not include the dollar sign (S). Round your answer to 2 decimal places. (e.g., 32.16))