You are considering investing in a company that cultivates abalone for sale to local restaurants. Use the following information:

Sales price per abalone	=	$44.70
Variable costs per abalone	=	$11.30
Fixed costs per year	=	$502,000
Depreciation per year	=	$103,000
Tax rate	=	22%

The discount rate for the company is 14 percent, the initial investment in equipment is $927,000, and the projects economic life is 9 years. Assume the equipment is depreciated on a straight-line basis over the projects life and has no salvage value.

a.	What is the accounting break-even level for the project?

b.	What is the financial break-even level for the project?