Wood Corporation was a C corporation in 2013 but elected to be taxed as an S corporation in 2014. At the end of 2013, its earnings and profits were $15,500. The following table reports Wood's (taxable) income for 2014 (its first year as an S corporation).

Wood Corporation

Income Statement

December 31, 2014

Sales Revenue ...................................... $150,000

Cost of Goods Sold ................................ (35,000)

Salary to owners .................................... (60,000)

Employee Wages ................................... (50,000)

Depreciation Expense .............................. (4,000)

Miscellaneous Expenses .......................... (4,000)

Interest income ....................................... 8,000

Dividend Income .................................... 2,000

Overall Net Income ................................ $7,000

What is Wood Corporation's excess net passive income tax for 2014?