The answer is calculated using the following steps.

Step 1: Calculate the required return for working capital and fixed assets.

Given the required returns in percent, the monetary returns are:

Working Capital: $600,000 × 5% = $30,000.
Fixed Assets: $2,300,000 × 13% = $299,000.

Step 2: Calculate the residual income.

After the monetary returns to assets are calculated, the residual income is that which is left over in the normalized earnings:

Residual Income = $340,000 − $30,000 − $299,000 = $11,000.

Step 3: Value the intangible assets.

Using the formula for a growing perpetuity, the discount rate for intangible assets, and the growth rate for residual income:

Value of Intangible Assets = ($11,000 × 1.04) / (0.18 − 0.04) = $81,714.

Step 4: Sum the asset values to arrive at the total firm value.

Firm Value = $600,000 + $2,300,000 + $81,714 = $2,981,714.