Nueva Company reported the following pretax data for its first year of operations. Net sales 7,520 Cost of goods available for sale 5,730 Operating expenses 1,578 Effective tax rate 20% Ending inventories: If LIFO is elected 633 If FIFO is elected 813 What is Nueva's net income if it elects FIFO? Note: Round your intermediate and final answer to the nearest whole dollar amount.

1. $820

2. $845

3. $676

4. $1,025