A company that manufactures automatic blowdown control valves (for applications where boilers are operated unsupervised for 24 to 36 hours) has fixed cost of $160,000 per year and variable cost of $400 per valve. If the company expects to sell 12,000 valves per year, determine the selling price in order for the company to

(a) Break even,

(b) Make a profit of $400,000 per year.