An analyst is assessing the value of a private company from the perspective of a non-controlling, minority-interest shareholder. The analyst gathers the following information:

• The company's normalized EBITDA is $35,000,000
• The comparable peer multiple for EV/EBITDA is 8.0
• The discount for lack of control is 12%
• The discount for lack of marketability is 15%

Based on the guideline public company method, the value of the company is: