Labrador technologies Inc. plans to become public soon. The board of directors would like to know the value of common equity and have asked for your opinion. The firm has $2,913,046 in preferred equity and the market value of its outstanding debt equals $3,075,380. The WACC for this firm is estimated to be 9.05%. Use the DCF 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 2.5% rate after Year 5. Rounding to the nearest penny, what is the value of common equity? Period Year 1 Year 2 Year 3 Year 4 Year 5 Free Cash Flow $1,082,369 $1,491,477 $1,467,458 $2,566,574 $3,124,019