Sheldon Coopers Lab Services (SCLS) is bidding upon a service contract to maintain and upgrade 2 of the University's science labs per year for the next six years.

The contract will require purchasing $1,001,000 in equipment that will be depreciated using straight-line depreciation to a zero book value over the project's life. The equipment can be sold for $325,000 at the end of the service contract. They will also need $140,000 in net working capital over the life of the contract.

While performing the contract work, they expect to incur fixed costs of $500,000 per year and a variable cost of $118,000 per lab. They will also face a corporate tax rate of 21%.

If the required rate of return is 15%, what is the minimum offer they can make per lab and still turn an economic profit?