Beta Steel, a manufacturer of specialized tools, has $4,800,000 in assets. Temporary current assets $1,600,000 Permanent current assets 1,530,000 Capital assets 1,670,000 Total assets $4,800,000 Short-term rates are 12 percent. Long-term rates are 17 percent. (Note that longterm rates imply a return to any equity). Earnings before interest and taxes are $1,020,000. The tax rate is 40 percent. If long-term financing is perfectly matched (hedged) with long-term asset needs, and the same is true of short-term financing, what will earnings after taxes be? For an example of