CEO has developed a new product that will allow its free cash flows to grow at the rate of 8% for next year, 5% for the following year, and 3% thereafter. CEOs last free cash flow was $100,000. The market value of the firm's debt is $500,000 and the market value of its preferred stock is $20,000. There are 1,000,000 shares outstanding. If an investor requires a 10% return given the risk of CEO, what would be the value of the stock?