You need to estimate the value of Laputa Aviation. You have the following forecasts (in millions of dollars) of its profits and of its future investments in new plant and working capital:

	Year
1	2	3	4
Earnings before interest, taxes, depreciation, and amortization (EBITDA)	$ 84	$ 104	$ 119	$ 124
Depreciation	14	24	29	34
Pretax profit	70	80	90	90
Tax at 30%	21	24	27	27
Investment	13	16	19	21

From year 5 onward, EBITDA, depreciation, and investment are expected to remain unchanged at year-4 levels. Laputa is financed 40% by equity and 60% by debt. Its cost of equity is 15%, its debt yields 6%, and it pays corporate tax at 30%.

Estimate the companys total value.

What is the value of Laputas equity?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole amount.