Price Corp. is considering selling to a group of new customers and creating new annual sales of $70,000. 5% will be uncollectible. The collection cost is 3.48% of sales, the cost of producing and selling is 72% of sales and the firm is in the 31% tax bracket. What is the profit on new sales?

$5,554.50

$9,418.50

$7,245.00

$5,959.50