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