Sandhill 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, 2022:

Variable costs (per pair of shoes)
	Direct materials		$37
	Direct manufacturing labour		17
	Variable overhead (manufacturing, marketing, distribution, customer service, and administration)		20
	Total variable costs		$74
Fixed costs
	Manufacturing		$2,540,000
	Marketing, distribution, and customer service		550,000
	Administrative		790,000
	Total fixed costs		$3,880,000

Selling price per pair of shoes		$174
Expected revenues, 2022 (51,700 units)		$8,995,800
Income tax rate		40%

Calculate the projected operating income before tax for 2022.