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 $420 per stove, and fixed costs are $100,000 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 $300,000 at the beginning of the project (year 0 ) and it is reduced back to its original level in the final year. The tax rate is 20 percent and the discounting rate for the project is 12%. What is the annual Earnings Before interests, and Taxes (EBIT)? For your answer, round to the nearest dollar, DO NOT use commas to separate thousands; do not use $ sign symbol, and If figure is negative then use the negative sign () before the first digit. For example. If your answer is $5,356.70 then enter 5357 ; if your answer is $1,000 then enter 1000