Buttery Ice-Cream had sales of $7.25 million in 2020. Its cost of goods sold was $4.5 million, and it had $1.2 million in selling, general, and administrative expenses. It paid interest of $21000 and dividends to its shareholders of $16000. For simplicity, assume a flat tax rate of 31%. The firm?s operating profit in 2020 was

$1,039,010

$1,529,000

$1,055,010

$1,550,000