Spartan Corporation redeemed 25 percent of its shares for $4,200 on July 1 of this year, in a transaction that qualified as an exchange under IRC \$302(a). Spartan's accumulated E\&P at the beginning of the year was $4,200. Its current E\&P is $17,600. Spartan made dividend distributions of $3,900 on June 1 and $6,000 on August 31. Determine the beginning balance in Spartan's accumulated E\&P at the beginning of the next year. See Revenue Rule 74-338 and Revenue Rule 74-339 for help in making this calculation. Note: Round your intermediate calculations to the nearest whole dollar amount