Colter Steel has $5,250,000 in assets.

Temporary current assets	$	2,500,000
Permanent current assets		1,575,000
Fixed assets		1,175,000
Total assets	$	5,250,000

Assume the term structure of interest rates becomes inverted, with short-term rates going to 10 percent and long-term rates 4 percentage points lower than short-term rates. Earnings before interest and taxes are $1,110,000. The tax rate is 40 percent.

Earnings after taxes?