Ovation Company has a single product called a Bit. The company normally produces and sells 28,800 Bits each year at a selling price of $32 per unit. The companys unit costs at this level of activity are given below:

Direct materials	$	12.30
Direct labour		3.00
Variable manufacturing overhead		1.80
Fixed manufacturing overhead		3.30	($95,040 total)
Variable selling expenses		2.10
Fixed selling expenses		3.00	($86,400 total)
Total cost per unit	$	25.50

Due to a strike in its suppliers plant, Ovation Company is unable to purchase more material for the production of Bits. The strike is expected to last for two months. Ovation Company has enough material on hand to operate at 30% of normal levels for the two-month period. As an alternative, Ovation could close its plant down entirely for the two months. If the plant were closed, fixed manufacturing overhead costs would continue at 60% of their normal level during the two-month period and the fixed selling expenses would be reduced by 20%. What would be the impact on profits of closing the plant for the two-month period?