Assume the perpetual inventory system is used. 1) Green Company purchased merchandise inventory that cost $17,500 under terms of 2/10, n/30 and FOB shipping point. 2) Green Company paid freight cost of $750 to have the merchandise delivered. 3) Payment was made to the supplier on the inventory within 10 days. 4) All of the merchandise was sold to customers for $26,500 cash and delivered under terms FOB destination with freight cost amounting to $550. What is the amount of gross margin that results from these transactions