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Victoria Enterprises expects earnings before interest and taxes (EBIT) next year of $2.3 million. Its...

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Accounting

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Victoria Enterprises expects earnings before interest and taxes (EBIT) next year of $2.3 million. Its depreciation and capital expenditures will both be $313,000, and it expects its capital expenditures to always equal its depreciation. Its working capital will increase by $49,000 over the next year. Its tax rate is 30%. If its WACC is 8% and its FCFs are expected to increase at 3% per year in perpetuity, what is its enterprise value? (Round to the nearest dollar.)

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