Giggling Brothers, wholesalers of fine wines, wants to open up a few wine shops around Richmond.

Consider the following:

- Each location costs $450,000

- They plan to start one at the beginning of year 1, two locations at the end of year 2, and three more at the end of year 3 to spread out the work.

- Each location brings in profits of $324,000 per year

- They plan to sell everything in 5 years and thinks they could sell them for $67,000 each at that time.

- Assume a discount rate of 9%.

What would the Giggling Brothers be worth today using the Free Cash Flow Model? Please show calculations.