Saved Nueva Company reported the following pretax data for its first year or operations. Net sales 7,500 Cost of goods available for sale 5,680 Operating expenses 1,568 Effective tax rate 20% Ending inventories: If LIFO is elected If FIFO is elected 622 807 What is Nueva's net income if it elects FIFO? (Round your intermediate and final answer to the nearest whole dollar amount.) Multiple Choice $847 5874 $699