Nikey is considering purchasing a new machine to produce its High-Flight line of shoes. The machine has an economic life of five years and will be depreciated over that time using the straight-line method to a zero salvage value for income tax purposes. The machine will have a $40,000 residual value. The machine costs $575,000 and working capital of $75,000 will be needed at all times to maintain production schedules. At the project's end, the working capital can be completely recovered. Each pair of High-Flight shoes will sell for $50 with a variable cost of $14 per pair. An extra $ 195,000 of fixed costs per year will be necessary to produce the shoes. The company has a 35% average income tax rate and a marginal income tax rate of 40%. Its after-tax cost of capital is 16% Required: Assuming a constant number of shoes sold each year, what is the minimum number of pairs the company must sell annually to justify embarking on thie project