Nueva Company reported the following pretax data for its first year of operations. Net sales Cost of goods available for sale Operating expenses Effective tax rate Ending inventories: IF LIFO is elected If FIFO is elected 7,400 5,670 1,568 20% 619 802 What is Nueva's net income if it elects FIFO? (Round your intermediate and final answer to the nearest whole dollar am Multiple Choice $781 $964