Labrador technologies Inc. develops and sells apps for smartphones and tablets. The firm plans to become public soon. The board of directors need to know the value of the common equity in the firm and have asked for your opinion. The firm has $1,010,074 in preferred equity and the market value of its outstanding debt equals $2,064,924. The WACC for this form is estimated to be 9.23%. Use the DCFF valuation model with the expected FCFs shown below; year 1 represents one year from today and so on. The company expects to grow at a 2.2% rate after Year 5. Rounding to the nearest penny, what is the value of common equity? Period Free Cash Flow Year 1 $1,244,702 Year 2 $1,412,210 Year 3 $2,189,149 Year 4 $2,119,762 Year 5 $2,778,160