The MoMi Corporation's cash flow from operations before interest and taxes was $$3\mathrm{.}4$ million in the year just ended, and it expects that

this will grow by $5\%$ per year forever. To make this happen, the firm will have to invest an amount equal to $19\%$ of pretax cash flow each

year. The tax rate is $21\%.$ Depreciation was $$270,000$ in the year just ended and is expected to grow at the same rate as the operating

cash flow. The appropriate market capitalization rate for the unleveraged cash flow is $10\%$ per year, and the firm currently has debt of

$$6\mathrm{.}2$ million outstanding. Use the free cash flow approach to value the firm's equity. $($Round answer to nearest whole number. Enter

your answer in dollars not in millions.$)$

Value of the equity