The following data pertain to last year's operations at Tedder Corporation, a company that produces a single product:

Units in beginning inventory ........................... 0

Units produced ................................................ 20,000

Units sold ......................................................... 19,000

Selling price per unit ....................................... $100.00

Variable costs per unit:

Direct materials ............................................ $12.00

Direct labor ................................................... $25.00

Variable manufacturing overhead ................ $3.00

Variable selling and administrative .............. $2.00

Fixed costs per year:

Fixed manufacturing overhead ..................... $500,000

Fixed selling and administrative .................. $600,000

What was the variable costing net operating income last year?