Cobalt Industries had sales of 158,100 units at a price of $9.73 per unit. It faced fixed operating costs of $259,000

and variable operating costs of $5.09 per unit. The company is subject to a tax rate of 38%

and has a weighted average cost of capital of 7.4%.

Calculate Cobalt's net operating profits after taxes (NOPAT),

and use it to estimate the value of the firm. (Assume the firm's earnings are not growing.)