Hudson Bay Properties is considering starting a commercial real estate division. It has prepared the following four-year forecast of free cash flows for this division: Year 1 - $184,000 Year 2 - $8,000 Year 3 $52,000 Year 4 $182,000 Free cash flow Assume cash flows after year 4 will grow at 3% per year, forever. If the cost of capital for this division is 8%, what is the continuation value in year 4 for cash flows after year 4? What is the value today of this division? The continuation value is $ . (Round to the nearest dollar.)