TED-NO Corp. has decided to manufacture and sell a new line of low-priced cell phones. Annual sales for the new line of cell phones is estimated at $800,000 a year for each of the next 5 years. The variable costs are 80% of sales and fixed costs are $200,000 annually. A marketing study that cost $800,000 done six months ago revealed that introducing this new line of cells will result in. additional sales of existing cell accessories products of $30,000 a year. The additional sales have a variable cost of $10,000 a year. 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 $900,000 at the end of 5 years. Net working capital increases by $500,000 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 40 percent and the discounting rate for the project is 8%. What is the annual Earnings Before Interests, Taxes, and Depreciation/Amortization (EBITDA)? 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