Margarite's Enterprises is considering a new project that will require $337379 for new fixed assets and a NWC investment of $85,000. The project has a 5-year life. The fixed assets will be depreciated straight-line to zero over the life of the project. At the end of the project, the fixed assets can be sold for 25% of their original cost. The net working capital returns to its original level at the end of the project. The project is expected to generate annual sales of $561327 and costs of $389874. The tax rate is 35% and the required rate of return is 15%. What is the amount of the earnings before interest and taxes for the first year of this project?