Wildhorse Water is considering introducing a water filtration device for its $20-$ounce water bottles. Market research indicates that $1,000,000$ units can be sold if the price is no more than $$5.$ If Wildhorse Water decides to produce the filters, it will need to invest $$2,000,000$ in new production equipment. Wildhorse Water requires a minimum rate of return of $19\%$ on all investments. Determine the target cost for the filter. $($Round answer to $2$ decimal places $($e$.$g$,10\mathrm{.}50).)$