You are going to value Lauryn's Doll Company using the FCF model. After consulting various sources, you find that Lauryn's has a reported equity beta of 1.5 , a debt-to-equity ratio of 0.3 , and a tax rate of 21 percent. Assume a risk-free rate of 4 percent and a market risk premium of 12 percent. Lauryn's Doll Company had EBIT last year of $45 million, which is net of a depreciation expense of $4.5 million. In addition, Lauryn's made $4.25 million in capital expenditures and increased net working capital by $4.1 million. Assume the FCF is expected to grow at a rate of 2 percent into perpetuity. What is the value of the firm? Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places