Colter Steel has $4,900,000 in assets.

Temporary current assets $ 1,800,000

Permanent current assets 1,540,000

Fixed assets 1,560,000

Total assets $ 4,900,000

Assume the term structure of interest rates becomes inverted, with short-term rates going to 14 percent and long-term rates 4 percentage points lower than short-term rates. Earnings before interest and taxes are $1,040,000. 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?