Mike Candy is considering whether to acquire a local cookie manufacturing company, Sweetn Things Inc. The companys annual income statements for three years are as follows:

	2014	2013	2012
Revenues	$ 2,243,155	$ 2,001,501	$ 2,115,002
Cost of goods sold	(1,458,051)	(1,300,976)	(1,374,751)
Gross profits	785,104	700,525	740,251
General and Administrative Expenses*	(574,315)	(550,150)	(561,500)
Net Operating Income	$ 210,789	$ 150,375	$ 178,751

*Includes depreciation expense of $40,000 per year.

Mike has learned that small private companies such as this one typically sell for EBITDA multiples of three times. Depreciation expense equals $40,000 per year. What value would you recommend Mike put on the company?