You have been tasked with using the FCF model to value Amara's Jewelry Company. After your initial review, you find that Amara's has

a reported equity beta of $1\mathrm{.}6,$ a debt$-$to$-$equity ratio of $0\mathrm{.}5,$ and a tax rate of $21$ percent. In addition, market conditions suggest a risk$-$

free rate of $5$ percent and a market risk premium of $10$ percent. If Amara's had FCF last year of $$49\mathrm{.}5$ million and has current debt

outstanding of $$124$ million, find the value of Amara's equity assuming a $3\mathrm{.}0$ percent growth rate in FCF$.$

Note: Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.

Value of the equity