Classic Loungers is in the process of preparing a production cost budget for August. Actual costs in July for 200 chaise lounge chairs were:

Materials cost $ 6,000

Labor cost 8,000

Rent 2,000

Depreciation 4,000

Other fixed costs 5,000

Total $25,000

Each chair was sold for $140 in July. Management estimates that sales will increase to 250 chairs during August if the company lowers the selling price to $130 per chair. Materials and labor are the only variable costs. How much is the incremental revenue associated with the price reduction?