Martin Footwear Co. produces high-quality shoes. To prepare for next years marketing campaign, the companys controller has prepared the following information for the current year, 2020:

Variable costs (per pair of shoes)
	Direct materials		$39.00
	Direct manufacturing labour		18.00
	Variable overhead (manufacturing, marketing, distribution, customer service, and administration)		23.00
	Total variable costs		$80.00
Fixed costs
	Manufacturing		$2,640,000
	Marketing, distribution, and customer service		455,000
	Administrative		785,000
	Total fixed costs		$3,880,000

Selling price per pair of shoes		$180
Expected revenues, 2020 (50,300 units)		$9,054,000
Income tax rate		40%

Calculate the projected operating income before tax for 2020.

Operating income before tax

$