(Using common-size financial statements) Geochem Ltd. is a Hong Kong-based chemical company. They expect its sales to be $6,500,000 in the coming year. The firm pays tax at 16.5 percent and will owe $1,100,000 in interest to its bankers. Based on past performance, the firms management expects that the cost of goods sold will be 55 percent of sales and its operating expenses will be 20 percent of sales. Prepare an estimate of the firm's net income after tax for the coming year.