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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

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 1.7, 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 6 percent and a market risk premium of 9 percent. If Amara's had FCF last year of $52.0 million and has current debt outstanding of $129 million, find the value of Amara's equity assuming a 5.2 percent growth rate in FCF.
Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.
\table[[Value of the equity,$35,864,035.00
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