The Blast Company is financed entirely with equity. The company is considering a loan of $1.84 million. The loan will be repaid in equal principal installments over the next two years, and it has an interest rate of 9 percent. The companys tax rate is 40 percent. According to MM Proposition I with taxes, what would be the increase in the value of the company after the loan? (Enter your answer in dollars and round your answer to 2 decimal places)

Increase in the value $