Panda Industries Inc. has $1,769,541 in preferred equity and its outstanding debt has a valu of $2,810,641. The firm's WACC is 6.9%. Use the DCF valuation model with the expected FCF= shown below; year 1 represents one year from today and so on. The company expects to grow at 3.6% rate after Year 5. Rounding to the nearest penny, what is the value of common equity? Period Year 1 Year 2 Year 3 Year 4 Year 5 Free Cash Flow $938,511 $1,042,279 $1,750,343 $2,876,154 $2,562,912