As part of a business combination, Mother Ryan company acquired a customer list and a franchise agreement.  Mother Ryan uses...

As part of a business combination, Mother Ryan company acquired a customer list and a franchise agreement.  Mother Ryan uses the expected cas flow approach for extimating the fair value of these two intangibles.  The appropriate interest rate is 8%.  The potential future cash flows from the two intangibiles, and their associated probabilities, are as follows:

Customer List

Outcome 1 17% probability of cash flows of $40,000 at the end of each year for five years

Outcome 2 29% probability of cash flows of $18,000 at the end of each year for four years

Outcome 3 54% probability of cash flows of $9,000 at the end of each year for three years

Franchise Agreement

Outcome 1 15% probability of cash flows of $450,000 at the end of each year for 10 years

Outcome 2 19% probability of cash flows of $12,000 at the end of each year for four years

Outcome 3 66% probability of cash flows of $500 at the end of each year for three years

Using the expected cash flow approach, estimate the fair value of the customer list and of the franchise agreement.  Round your calculations to the nearest whole dollar.

Total estimated fair value of the customer list   $______________

Total estimated fair value of the franchise agreement $________________