Company ABC, the NI for the first year is $1.5m and the EBIT is $1.6m. In the second year, its sales are $7 million annually. The company's variable costs of sales are 40% of sales, and its fixed costs are $2.4 million. The company's annual interest expense is $100,000. The amount of taxes paid for this year is $25,000. If we increase its EBIT by 20%, how much will the company's NI increase