On December $31,2006,$ a stock analyst has forecasted that Hart Enterprises should generate free cash flows of $$1,500$ in $2007$ and $2,000$ in $2008$ and $2,500$ in $2009.$ Thereafter, free cash flow for Hart Enterprises is expected to grow at an annual rate of $4\%.$ Hart Enterprises has a weighted average cost of capital $($WACC$)$ of $11\%.$ Hart Enterprises has Notes Payable and Long$-$term Debt of $$10,000$ and no Preferred Stock. Hart Enterprises has $5,000$ shares of common stock outstanding.

What is the total value of Hart Enterprises $(6$ points$)?$ Show your work for partial credit.

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