Colter Steel has $4,750,000 in assets.

Temporary current assets	$	1,500,000
Permanent current assets		1,525,000
Fixed assets		1,725,000
Total assets	$	4,750,000

Short-term rates are 11 percent. Long-term rates are 16 percent. Earnings before interest and taxes are $1,010,000. The tax rate is 30 percent.

If long-term financing is perfectly matched (synchronized) with long-term asset needs, and the same is true of short-term financing, what will earnings after taxes be?