You are considering investing in a new venture which is not expected to make a profit until the end of year $3$ when the net income is expected to be $$2$ million. The common stock of Unlimited Space, a $$comparable$$ firm, currently trades in the over$-$the$-$counter market at $$45$ per share. Ultimate Spaces$$ net income for the most recent year was $$450,000$ and the firm has $100,000$ shares of common stock outstanding. Apply the VC method to determine the current value of the new venture. You may assume a $15\%$ discount rate.

a$.$ $$4,500,000.$

b$.$ We need more information to find the current value.

c$.$ $$2,750,000.$

d$.$ $$4,505,000.$

e$.$ $$20,000,000.$

f$.$ $$9,000,000.$

g$.$ $$13,150,000.$

h$.$ $$1,300,000.$