Spartan Corporation redeemed 25 percent of its shares for $3,000 on July 1 of this year, in a transaction that qualified as an exchange under 302(a). Spartans accumulated E&P at the beginning of the year was $3,000. Its current E&P is $17,900. Spartan made dividend distributions of $2,700 on June 1 and $5,700 on August 31. Determine the beginning balance in Spartans accumulated E&P at the beginning of the next year. See Rev. Rul. 74-338, 1974-2 C.B. 101, and Rev. Rul. 74-339, 1974-2 C.B. 103, for help in making this calculation. (Round your intermediate calculations to the nearest whole dollar amount.)

Accumulated E&P at the beginning of the next year - ____________