1. **State the problem:** Calculate the value of the expression $$\frac{1348000}{(1.06)^2}$$. 2. **Formula and rules:** This is a division problem where the denominator is a power of a decimal number. We need to square 1.06 and then divide 1348000 by that result. 3. **Calculate the denominator:** $$ (1.06)^2 = 1.06 \times 1.06 = 1.1236 $$ 4. **Divide the numerator by the denominator:** $$ \frac{1348000}{1.1236} $$ 5. **Simplify the division:** $$ \frac{1348000}{\cancel{1.1236}} = \frac{1348000}{\cancel{1.1236}} $$ 6. **Perform the division:** $$ \approx 1200000 $$ **Final answer:** $$ \boxed{1200000} $$