Colter Steel has $$5,300,000$ in assets.

Temporary current assets $ $2,600,000$

Permanent current assets $1,580,000$

Fixed assets $1,120,000$

Total assets $ $5,300,000$

Assume short$-$term interest rates are $11$ percent and long$-$term rates are $2$ percentage points lower than short$-$term rates. Earnings before interest and taxes are $$1,120,000.$ The tax rate is $20$ 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$?$

Earnings after taxes