You are asked to evaluate a project which requires the purchase of an asset and you must determine the break-even level of the cost of the asset. The asset will be depreciated straight-line over its life and will have zero salvage value at the end of the project. The life of the project and asset are both 9 years. The net working capital will increase by $48,000 at the beginning of the project but this can be fully recovered when the project ends. The firm's tax rate is 32% and its discount rate is 7.5%. Revenue is expected to be $540,000 per year and costs are expected to be 68% of revenue. What is the break-even level of the cost of the asset?