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 $2,788,574 in preferred equity and the market value of its outstanding debt equals $3,335,309. The WACC for this firm is estimated to be 7.70%. 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 2.1% rate after Year 5. Rounding to the nearest penny, what is the value of common equity? Period Year 1 Free Cash Flow $873,281 Year 2 $1,518,293 Year 3 $1,724,113 Year 4 $2,813,918 Year 5 $2,435,689