Crane Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $ 38 throughout the country to loyal alumni of over 1,040 schools. Cranes variable costs are 38% of sales; fixed costs are $ 124,800 per month.

Assume that variable costs increase to 43% of the current sales price and fixed costs increase by $ 10,400 per month. If Crane were to raise its sales price 10% to cover these new costs, but the number of blankets sold were to drop by 5%, what would be the new annual operating income? (Round answers to 0 decimal places, e.g. 25,000.) New annual operating income $ enter the new annual operating income in dollars