You and your friend from high school started a lawn mowing and snow clearing business a few years ago and sales have been growing steadily at about 45 percent annually since inception. You and your friend decided that you would sell your current business and start a high-growth technology company. You estimated that a fair market value for your current business would be half of the value of the projected sales for the next five years. This year your business will generate sales worth $145,350. Calculate the selling price of your current business if the prevailing interest rate is 5.2 percent.

NOTE: Show all your workings, i.e., assumptions, rationale, formulae, cash flow diagrams, etc., to get full credit.