Sport L&K Company produces annual cash flows of $228 dollars and is expected to exist forever. (Numbers are in thousands). The company is currently financed with 62 percent equity. Your analysis tells you that the appropriate discount rates are 10.37 percent for the cash flows, and 5.24 percent for the debt. You currently own 11 percent of the shares.

Assume that all conditions identified by the M&M Proposition 1 apply.

What is the firm's value today?

Round answer to two decimals