Miss Jane Zhao, a private equity analyst at Dawn Ventures Co$.$ Ltd has been asked to come up with a fair market value of common equity for Magnon Co$.,$ an unlisted company in the biotech sector. Jane is using EV$/$EBITDA as one of her metrics. P$/$E ratio is also used $($earnings may be forward looking or most recently available earnings$)$ in addition to other metrics. Magnon$$s most recently available annual EBITDA in the past twelve months $($TTM or trailing twelve months$)$ is $$2\mathrm{.}5$m$.$ Jane believes that an appropriate EV$/$EBITDA multiple $($TTM$-$based$)$ for Magnon is about $10$ as it is still relatively early stage. Other listed companies in the biotech sector could command EV$/$EBITDA multiple $($TTM$-$based$)$ of more than $20.$ Magnon$$s cash balance is currently $$500,000$ and its debt outstanding is $$3$ m$.$ Preferred stock is valued at about $$600,000.$ What is the fair market value of common equity for Magnon Co based on the EV$/$EBITDA multiple put forward by Jane?