A Company produces product KL from a process that also yields a by-product, M. The by-product requires $ 4,000 additional processing cost. The company decided to account for the by-product at time of production. Information concerning a batch produced in December 2023 follows: Product Units Produced Sales Value at split-off Point Units Sold KL 50,000 units $10 per unit 40,000 units M 20,000 units $1 per unit 10,000 units What is the profit That the company will report for December 2023 if costs incurred up to the split off point are $300,000?