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 1.6, a debt-to-equity ratio of 0.5, 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 12 percent. If Amara's had FCF last year of $47.5 million and has current debt outstanding of $120 million, find the value of Amara's equity assuming a 4.6 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