Blossom Footwear Co. produces high-quality shoes. To prepare for next year's marketing campaign, the company's controller has prepared the following information for the current year, 2022: Variable costs (per pair of shoes) Direct materials Direct manufacturing labour Variable overhead (manufacturing, marketing, distribution, customer service, and administration) Total variable costs: $37 17 19 $73 Fixed costs Manufacturing Marketing, distribution, and customer service Administrative Total fixed costs $2,500,000 450,000 700,000 $3,650,000 Selling price per pair of shoes $173 Expected revenues, 2022 (50,000 units) $8,650,000 Income tax rate 40% Calculate the projected operating income before tax for 2022. Operating income before tax $