A firm has free cash flows of $500,000 on their most recent financial statements. The firm expects the FCF’s to grow at about 8% per year for the next 3 years and then decline to a more constant 2.5% from that point on. The cost of capital for the firm is 10.50%. The firm’s financials also revealed that the firm has marketable securities valued at $0.75 million as well as total debt of $1 million and preferred stock totalling $250,000. The firm has total assets of $8 million. If the firm has 400,000 shares outstanding and 500,000 shares authorized, what is the intrinsic value of common equity per share?