Current Attempt in Progress

Sarasota 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, Sarasota 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 Sarasota'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? Sarasota 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 $

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