The Paper Peddler Plumbing Company has a historical growth in its free cash flows of 3% with little variability. With the addition of a new plant and equipment, however, you expect free cash flows will grow 9% in Year 1, 6% in Year 2, and 4% thereafter. The firms last free cash flow was $400,000. The firm has a required rate of return of 10%. What is the expected value of the firms operations?