Free Cash Inc.'s cost of capital is estimated to be 9 percent. The free cash flows to the firm (FCFF) is estimated to be $22,000, $28,500, and $35,500 in each of the next three years. Free cash flows beyond year 3 are estimated to grow at an annual rate of 3 percent. Apply the growing perpetuity formula to estimate the terminal value of Free Cash Inc. as of year 3.