EcoBuild Construction Company is considering a cost-plus pricing strategy for its construction projects. The company estimates that direct costs (materials, labor, subcontractor costs) for a project amount to $500,000, and indirect costs (overhead, administrative expenses) are $100,000. If EcoBuild Construction Company wants to achieve a profit margin of 20% on total costs, calculate the selling price for the project. Evaluate the profitability of the project based on the cost-plus pricing strategy.