ABC expects sales of $19,069,000 this year. The cost of goods sold is expected to be $9,558,000 while selling, general and admin (SGA) expenses are forecast to be $5,895,000. The firm expects depreciation expenses to be $159,000 and expects to pay an average interest rate of 5.3% on its $4,492,000 of liabilities. Given its tax rate of 40%, what is the expected net income for ABC this year? Please show work and formula used.