TradeDepot Ltd is a private startup in the Trade industry. The firm has no debt and does not have any earnings yet, but wants to raise $120 million from a venture capitalist (VC). The firm is expected to go public in 8 years, with expected earnings of $21 million. The average price-earnings ratio of other firms in this industry is 41. If the VC has a target rate of return of 28%, what is the current estimated value of the firm (in $ million)? Hint: You need to first calculate the Exit value.