Colter Steel has $$4,200,000$ in assets. The temporary current assets are in place for nine months and reduce to zero for three months.

Temporary current assets $ $1,000,000$

Permanent current assets $2,000,000$

Capital assets $1,200,000$

Total assets $ $4,200,000$

Short$-$term rates are $8$ percent. Long$-$term rates are $13$ percent. $($Note that long$$term rates imply a return to any equity$).$ Earnings before interest and taxes are $$996,000.$ The tax rate is $30$ percent.

If long$-$term financing is perfectly matched $($synchronized$)$ with long$-$term asset needs, and the same is true of short$-$term financing, what will earnings after taxes be$?$