Julie lives in the country of Snowland. Calculate her assessable income given that:

she earns a salary of $40,000 per year;

she has $22,000 in a 1 year term deposit which will earn interest at the rate of 5% per year; and

she has study expenses of $2,000 per year that are an allowable deduction.

Your answer should be calculated to the nearest dollar ($ 0dp).