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EMC Corporation has never paid a dividend. Its current free cash flow of $520,000 is expected to grow at a constant rate of 4.4%. The

EMC Corporation has never paid a dividend. Its current free cash flow of $520,000 is expected to grow at a constant rate of 4.4%. The weighted average cost of capital is WACC = 11%. Calculate EMC's estimated value of operations. Round your answer to the nearest dollar.

$

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