An acquiring firm is analyzmg the possible acquisition of a target furn Both firms have no debt

An acquiring firm is analyzmg the possible acquisition of a target furn Both firms have no debt. The acquiring firm believes the acquisition of the target firm will increase its total after-tax annual cash flows by $3.5 million per year forever. The appropriate discount rate for the incremental cash flows is 11 percent The current market value of the target firm is $75 million, and the current market value of the acquiring firm is $140 million If the acquiring fimi pays 35 percent of its stock to the target firm's shareholders, what is the cost of the acquisition? Enter your arsswer in the box shown below as milhons of dollars with 2 digits to the right of the decimal pomt