Colter Steel has $5,600,000 in assets.

Temporary current assets	$	3,200,000
Permanent current assets		1,610,000
Fixed assets		790,000
Total assets	$	5,600,000

Short-term rates are 10 percent. Long-term rates are 15 percent. Earnings before interest and taxes are $1,180,000. The tax rate is 20 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?

Earnings after taxes

__________$