You believe that the price-to-book ratio is the best valuation measure for Griffith Auto Inc., and the analysis you conducted indicates that its fair price-to-book ratio is 0.4x and price-to-earnings ratio is 31.0x. The net profit of the company is expected to be $100 million this year. Its book-value per share in the previous year was $30 and the earnings per share was $3.2. The company is expected to pay $1.3 of dividend per share this year. 

The company has outstanding shares of 20 million shares. 

What is the company's fair value based on your forecast? Assume that the clean surplus relationship holds?