Oriole Co. at the end of 2017, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows:

Pretax financial income $1290000

Estimated litigation expense $ 3500000

Installment sales (2240000)

Taxable income $2550000

The estimated litigation expense of $ 3500000 will be deductible in 2019 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $1120000 in each of the next two years . The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $1120000 current and $ 1120000 noncurrent. The income tax rate is 40% for all years.

The deferred tax asset to be recognized is