You have been tasked with using the FCF model to value Amara's Jewelry Company. After your initial review, you find that Amara's has

a reported equity beta of $1\mathrm{.}6,$ a debt$-$to$-$equity ratio of $0\mathrm{.}5,$ and a tax rate of $21$ percent. In addition, market conditions suggest a risk$-$

free rate of $5$ percent and a market risk premium of $7$ percent. If Amara's had FCF last year of $$48\mathrm{.}0$ million and has current debt

outstanding of $$121$ million, find the value of Amara's equity assuming a $2\mathrm{.}8$ percent growth rate in FCF$.$

Note: Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.

Answer is not complete.

Value of the equity