A company sells a single product with a contribution margin of $37 per unit. The company currently sells 1700 units per year and management believes that if they reduce the sales price by $1 per unit, sales will increase by 11%. How much will annual profit change if they take this action?

(Round your final answer to the nearest dollar. Make sure to calculate the change in profit and not the new total profit. Indicate an increase in profit with a positive number and a decrease in profit with a negative number.)