At the end of 2021, your company recorded taxable income of $6,022. Tax rate this year was 25%.

You are facing uncertainty regarding future income and tax rates and would like to prepare a scenario analysis.

You narrowed down the possibilities for next year to the following:

* Taxable income: 4 scenarios - a. Decrease of 20%, b. No change, c. Increase of 10%, d. Increase of 15%.

* Tax rate: 2 scenarios - a. 20%, b. 35%

Q: Suppose the probabilities of each of the scenarios descibed above are the same (12.5% each), what is your expected net income next year? (round your answer to the nearest dollar)