$5.$ Hunter Henry started a clothing line. He signed a lease for a warehouse which costs $$15,000$ a month. The clothing line is too time$-$consuming, and he has asked you, as his accountant, to help him in determining the value of his company so he can sell it$.$

In year one, he is just working on production and will not have any sales. In years $2-5,$ he expects to have sales of $$100,000$ each year. Years, $6-10,$ sales are expected to grow to $$200,000$ each year. Years $11-20,$ he expects sales to be $$300,000$ a year and years $21-30,$ annual sales will be $$350,000.$

During the first five years, expenses in addition to the lease are expected to be $$100,000$ a year. Years $6-20$ these expenses are projected to be $$200,000$ and years $21-30$ they will be $$150,000.$

Assume the relevant market rate of interest is $8\%$ and all receipts and payments are made at the end of each month$/$year$.$ The lease is transferable, and the buyer can assume the lease.

What is the minimum price, Hunter should accept if he sells his business?