Calculating Residual Income for Global Tech

Global Tech is a publicly traded software company that has historically maintained a return on equity (ROE) higher than its cost of equity. For the upcoming year, the company's analysts anticipate a net income of $1.2 million. Global Tech has equity of $10 million. The company's cost of equity is estimated at 10%. Using the Residual Income Valuation (RIV) model, what is the residual income for Global Tech?