Horford Corp. reports the following results for 2021:

Division A Division B Division P Total

Sales $400,000 $300,000 $250,000 $950,000

Variable Costs 180000 160000 140000 480000

Contribution Margin 220000 140000 110000 470000

Fixed Costs 150000 120000 130000 400000

Net Income 70000 20000 -20000 700000

Horford's COO has recommended closing Division P.

30% of fixed costs are unavoidable in all three divisions, and if any one were to be eliminated, those costs would be allocated equally to the other two divisions.

By what amount would Horford's net income increase or decrease if Division P were eliminated? You must show an analysis to support your answer.