1. A local microbrewery expects to generate annual Net Free Cash Flow in the amounts of $15,000 in Year 1, $25,000 in Year 2 and $30,000 in Year 3. Thereafter, annual cash flow is expected to stabilize at $31,000 and remain at that level for the foreseeable future. The required rate of return for this business is 10%. Based solely on this information, what constitutes a fair offer price to buy this business [i.e., to acquire full control]?