Ace Co. paid $2,400,000 to acquire all of the common stock of Becker Corp. on January 1, year 1. Becker's reported earnings for year 1 totaled $432,000, and it paid $120,000 in dividends during the year. The amortization of allocations related to the investment was $24,000. Ace's net income, not including the investment, was $3,180,000, and it paid dividends of $900,000. What is the amount of consolidated net income for year 1? Be sure to show all work to receive full credit.