Johnson Thermal Products uses austenitic nickel-chromium alloys to manufacture resistance heating wire. The company is considering a new annealing-drawing process to reduce costs. If the new process will cost $2.1 million now, how much must be saved each year to recover the investment in 5 years if the company's MARR is a real 10\% per year and the inflation rate is 3.1% per year? The amount to be saved each year to recover the investment is $ . (Enter your answer in dollars and not in millions of dollars.)