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 $1,731,970 in preferred equity and the market value of its outstanding debt equals $3,120,092. The WACC for this firm is estimated to be 6.96%. For this example assume the current assets are zero. 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 3.2% rate after Year 5 . Rounding to the nearest penny, what is the value of common equity