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Victoria Enterprises expects earnings before interest and taxes (EBIT) next year of $1.1 million. Its depreciation and capital expenditures will both be $298,000, and it expects its capital expenditures to always equal its depreciation. Its working capital will increase by $45,000 over the next year. Its tax rate is 25%. If its WACC is 8% and its FCFs are expected to increase at 5% per year in perpetuity, what is its enterprise value? The company's enterprise value is $ (Round to the nearest dollar.)