You are going to value Lauryn’s Doll Co. using the FCF model. After consulting various sources, you find that Lauryn has a reported equity beta of 1.4, a debt-to-equity ratio of .6, and a tax rate of 40 percent. Assume a risk-free rate of 4 percent and a market risk premium of 10 percent. Lauryn’s Doll Co. had EBIT last year of $43 million, which is net of a depreciation expense of $4.3 million. In addition, Lauryn made $7 million in capital expenditures and increased net working capital by $4.0 million. Assume her FCF is expected to grow at a rate of 4 percent into perpetuity. What is the value of the firm? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. Omit the "$" sign in your response.)

Firm value           $  million