Nationals Co. started a new business on January 1, 2021. That same day, Nationals Co. also received $140,000 of cash from issuing common stock and borrowed $80,000 from a friend. On January 1, 2021 Nationals Co. also purchased equipment for $96,000. The equipment has a useful life of 48 months. On January 1, 2021, Nationals also paid $43,200 in cash to rent office space for a 24-month period. During 2021, the Company provided services valued at $44,000 and had collected $17,600 of that amount at year-end. The company will collect the remaining portion in the following year. The company's payroll for 2021 was $33,300, which was paid in full during 2021. What is the company's valuation at the end of 2021 if they use a revenue multiple of 3.6 to value the company?