Ivanhoe Company began operations in 2015 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2017, in accordance with other companies in its industry, Ivanhoe changed its inventory pricing to FIFO. The pretax income data is reported below.

Year Weighted-Average FIFO

2015 $384,700 $399,100

2016 $398,400 $422,600

2017 $426,600 $467,100

What is Ivanhoes net income in 2017? Assume a 35% tax rate in all years.