Thriller Corporation has one class of voting common stock, of which 1,000 shares are issued and outstanding. The shares are owned as follows:

Joe Jackson	400
Mike Jackson (Joes son)	200
Jane Jackson (Joes daughter)	200
Vinnie Price (unrelated)	200
Total	1,000

Thriller Corporation has current E&P of $300,000 for this year and accumulated E&P at January 1 of this year of $500,000.

During this year, the corporation made the following distributions to its shareholders:

03/31: Paid a dividend of $10 per share to each shareholder ($10,000 in total).

06/30: Redeemed 200 shares of Joes stock for $200,000. Joes basis in the 200 shares redeemed was $100,000.

09/30: Redeemed 60 shares of Vinnies stock for $60,000. His basis in the 60 shares was $36,000.

12/31: Paid a dividend of $10/share to each shareholder ($7,400 in total).

Compute the corporations accumulated E&P at January 1 of next year. (Round all intermediate calculations to 2 decimal places. Round final answers to the nearest dollar amount.)