Your company issued risky debt with a 25,000,000 USD face value and an annual coupon. Its perpetual nominal pre-tax income is 3,450,000 USD. The company keeps a constant debt-to equity ratio equal to 0.75, the unlevered equity beta is 1.12 and the debt bears no systematic risk. The expected market portfolio return is 8.00%, the market risk premium is 6.00% and the tax rate is 30%. Finally, the inflation rate is 0% and the assets are fully depreciated. What is the market value of the companys equity?