RET Inc. has decided to manufacture and sell a new line of high-priced commercial stoves. Projected sales for the new line of stoves in annual units for the next 10 years are 4,000 a year. The sales price is $500 per stove, the variable costs are $370 per stove, and fixed costs are $300,000 annually. The plant and equipment required for producing the new line of stoves costs $2,000,000 (today) and will be depreciated down to zero over 10 years using straight-line depreciation. The plant and equipment is sold for $400,000 at the end of 10 years. Net working capital increases by $400,000 at the beginning of the project (year ) and it is reduced back to its original level in the final year. The tax rate is 40 percent and the discounting rate for the project is 11%. What is the annual Earnings before interests, taxes, and depreciation/amortization (EBITDA) in year 1? Your