Pharoah Company manufactures dog food for distribution in Washington, Oregon, and California. A dog food distributor from Florida has approached Pharoah and offered to purchase 257000 pounds of dog food for $1.40 per pound. Pharoah can produce 2034000 pounds of dog food per year, and its results for last year are as follows: Sales (1837000 at $1,65) Variable costs Contribution margin Fixed costs Operating income $3031050 1102200 1928850 807000 $1121850 If Pharoah accepts the offer, it will only be able to sell 1777000 pounds of dog food at the regular price due to its capacity constraints. What will Pharoah's total operating income be next year if it accepts the offer?