FinCorp’s free cash flow to the firm is reported as $295 million. The firm’s interest expense is $58 million.

FinCorp’s free cash flow to the firm is reported as $295 million. The firm’s interest expense is $58 million. Assume the tax rate is 35% and the net debt of the firm increases by $8 million. What is the market value of equity if the FCFE is projected to grow at 4% indefinitely and the cost of equity is 14%? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

Market value

$  million