Sandhill Co. owns a trade name that was purchased in an acquisition of Carla Vista Co.. The trade name has a book value of $3,050,000, but according to IFRS, it is assessed for impairment on an annual basis. To perform this impairment test, Sandhill must estimate the fair value of the trade name (using IFRS 13). It has developed the following cash flow estimates related to the trade name based on internal information. Each cash flow estimate reflects Sandhill's estimate of annual cash flows over the next 8 years. The trade name is assumed to have no salvage value after the 8 years. (Assume the cash flows occur at the end of each year.) Cash Flow Estimate Probability Assessment 20 % $379,000 637,500 50 % 747,000 30 % What is the estimated fair value of the trade name? Sandhill determines that the appropriate discount rate for this estimation is 8%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to O decimal places, e.g. 5,275.) Estimated fair value $ 4151191