Value of Operations

Kendra Enterprises has never paid a dividend. Free cash flow is projected to be $80,000 and $100,000 for the next 2 years, respectively; after the second year, FCF is expected to grow at a constant rate of 9%. The company's weighted average cost of capital is 17%.

Calculate the value of Kendra's operations. Round your answer to the nearest cent. Round intermediate calculations to two decimal places.