Daily Enterprises is purchasing a $ 10.5million machine. It will cost $47,000 to transport and install the machine. The machine has a depreciable life of five years and will have no salvage value. The machine will generate incremental revenues of $ 4.1 million per year along with incremental costs of $ 1.2million per year. If Daily's marginal tax rate is 35 %, what are the incremental earnings (net income) associated with the new machine? The annual incremental earnings are $ . (Round to the nearest dollar.)