An analyst produces the following set of forecasts for company F Year 1+1 100 50% Year 1+3 Net profit Year 1+2 100 50% 100 50% Dividend pay out ratio At the end of yeart, the book value of company F's equity is 500. Company F has no debt and its cost of equity is 10 percent. The analyst expects that in year t+4, company F will liquidate all its assets at their book values and pay out the proceeds to its equity holders. Under these assumptions, the analyst's estimate of company F's equity value at the end of yeart is?