Problem: Toronto engineers, David Tao and Jayden Li, appeared on CBC's Dragons' Den to request $200,000 for 5% of their company, Tapplock. Like her fellow Dragons, Michelle Romanow, thought that Tao and Li's valuation of their company was excessive. Romanow offered to give $200,000 in exchange for a royalty of 5% and equity of 6.15%. Based on Romanow's offer to Li and Tao, how much did she value Tapplock at?