Cheyenne Company owns a trade name that was purchased in an acquisition of McClellan Company. The trade name has a book value

of $$3,500,000,$ but according to GAAP, it is assessed for impairment on an annual basis. To perform this impairment test, Cheyenne

must estimate the fair value of the trade name. It has developed the following cash flow estimates related to the trade name based on

internal information. Each cash flow estimate reflects Cheyenne's estimate of annual cash flows over the next $9$ years. The trade name

is assumed to have no salvage value after the $9$ years. $($Assume the cash flows occur at the end of each year.$)$

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$($a$)$ What is the estimated fair value of the trade name? Cheyenne determines that the appropriate discount rate for this estimation

is $9\%.($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Estimated fair value $