Last year, your company had sales of $14,446,180. The firm's costs of goods sold amounted to 60% of sales. The firm also paid cash operating expenses of $1,000,000, and had $179,896 in depreciation expense. The firm had $450,000 in 9% coupon bonds outstanding and paid $40,000 in dividends to its common stockholders. Also, the firm received $100,000 in dividend income from its holdings of other common stocks. Compute the corporation's taxable income i.e. earnings before taxes.