Ella Grace works at her dance studio teaching classes. Throughout the week, she works 4 ½ hours at a rate of $12.35 per hour. She is paid every 2 weeks. If her boss gives her a $2 raise per hour, how much would she be paid in her next pay period?

Ella Grace works 4.5 hours a week at a rate of $12.35 per hour, for a total of 4.5 * $12.35 = $<<4.5*12.35=55.575>>55.575 per week.

Since she is paid every 2 weeks, then her pay for 2 weeks would be $55.575 * 2 = $<<55.575*2=111.15>>111.15.
If her boss gives her a raise of $2 per hour, then her new pay rate would be $12.35 + $2 = $<<12.35+2=14.35>>14.35 per hour.
Therefore, she would be paid a total of $14.35 * 4.5 = $<<14.35*4.5=64.575>>64.575 per week.
Thus, her pay for 2 weeks would be $64.575 * 2 = $<<64.575*2=129.15>>129.15. Answer: \boxed{129.15}.