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This past year DEF Company's free cash flow ( FCFo ) was $ 2 0 5 , 0 0 3 . Analysts expect the company's

This past year DEF Company's free cash flow (FCFo) was $205,003. Analysts expect the company's free cash flow to grow by 33% this year (Year 1), by 22% in Year 2, and at a constant rate of 4% in Year 3 and thereafter. The company's WACC is 8.00%. What is the company's value of operations? Round your answer to the nearest dollar, but ignore $ in your answer, e.g., xx.xx.(Hint: Use the formula for the value of operations.)

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