Zang Industries has hired the investment banking firm of Eric, Schwartz, & Mann (ESM) to help it go public. Zang and ESM agree that Zang's current value of equity is $62 million. Zang currently has 4 million shares outstanding and will issue 1.7 million new shares. ESM charges a 6% spread.

What is the correctly valued offer price? Do not round intermediate calculations. Round your answer to the nearest cent.

$