Cullumber Company has recorded bad debt expense in the past at a rate of 1.5% of accounts receivable, based on an aging analysis. In 2017, Cullumber decides to increase its estimate to 2%. If the new rate had been used in prior years, cumulative bad debt expense would have been $383,900 instead of $298,500. In 2017, bad debt expense will be $132,400 instead of $96,720. If Cullumbers tax rate is 29%, what amount should it report as the cumulative effect of changing the estimated bad debt rate? (Do not leave any answer field blank. Enter 0 for amounts.)

The cumulative effect of changing the estimated bad debt rate

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