Investors corporation has ten unrelated individual shareholders, who each own 10% of the outstanding stock. For their tax year ended December 31 of this year, Investors' gross income includes:

Interest on fed govt obligations: $10,000

Dividends from savings and loan associations

on passbook savings accounts: $2,000

Interest earned on notes receivable: $5,000

Net rental income: $3,000

No dividends are paid during the tax year or during the 2 1/2 month throwback period. Deductible administrative expenses total $4,000 for the year. Rental income has been reduced by $1,000 of depreciation and $2,000 of interest expense.

Required:

 What is Investors' undistributed personal holding company income?