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

$0\mathrm{.}4$ a reported equity beta of $1\mathrm{.}7.$ 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 $6$ percent and a market risk premium of $9$ percent. If Amara's had FCF last year of $$520$ million and has current debt points outstanding of $$129$ million, find the value of Amara's equity assuming a $5\mathrm{.}2$ 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

Definence