Is $40,000 to combine kitchen and dining room a fair price?

Right now, my kitchen and dining room are both quite small (kitchen is about 11x11 feet, and dining is 11x13 feet). The coat closet is in the corner of the dining room, and if I combine the rooms, I will lose this storage space, which is a premium in a house this size. I love entertaining, as I live alone, and dream of a combined kitchen/dining space, but I worry that the space may not be big enough to combine, given the width, without feeling crowded or forced. I need to replace the cabinet boxes regardless, as they are 30-40 year old IKEA and damaged from the previous owner (laminate is separating, MDF is exposed and water logged). The fridge also needs to be moved away from the stove for functionality. I'm trying to balance needs (replacing damaged cabinets and cheap vinyl flooring) and wants (quartz countertop, better layout with fridge placement). It seems that the overwhelming opinion is that I should not knock the wall down. There are no children in the home, and I live alone, so noise is not of particular concern. The space would still be closed off from the rest of the house, as it’s a 1937 Cape Cod style home (staircase in the middle, living room on the other side of the stairs). I've already got a coffee station set up in the kitchen (where I can't have lower cabinets anyway, because of the wall radiator). The table I bought will not fit horizontally in the dining room due to the door placement. I clean as I go while I cook and don’t ever have lingering smells after I’m done cooking (unless it’s curry, and even then it’s dissipated by the next day).