Colter Steel has $5,050,000 in assets.

Temporary current assets	$	2,100,000
Permanent current assets		1,555,000
Fixed assets		1,395,000
Total assets	$	5,050,000

Assume the term structure of interest rates becomes inverted, with short-term rates going to 14 percent and long-term rates 2 percentage points lower than short-term rates. Earnings before interest and taxes are $1,070,000. 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?