Grimes Corporation is planning a bond issue to finance a new project. Grimes plans to issue 2000 bonds with a face value of $1000 each and a coupon rate of 11%. The tax rate is 40%. Projected EPS after completion of the project is $5.34. What are the projected after tax earnings after completion of the project if there are 2000 shares outstanding?

A. 1,000,000

B. 1,068,000

C. 1,110,000

D. 1,900,000