UTK, Inc. is considering introducing a new bobblehead doll. Each doll costs $3.00 to make and will sell for $5.94. Packaging machinery will cost $100,000, including shipping and installation. Sales are expected to be 100,000 dolls in Year 1, 150,000 dolls in Year 2 and 200,000 dolls in Year 3 after which the equipment will be sold, and the production line shut down. The equipment will be sold for $80,000 at the end of 3 years. The machinery will be depreciated using the 5-year MACRS depreciation schedule, shown below. Working capital in the amount of 11.3% of the current years' sales will be required to be in place at the beginning of the year (that is, will be required to be in place at the end of the previous year). UTK's tax rate is 25%

Year 1 2 3 4 5 6 Depreciation % 20.00% 32.00% 19.20% 11.52% 11.52% 5.76% 

Calculate the required incremental investment in working capital in Year 1. Enter your number in dollars (but not with a $ sign!) and round to the nearest dollar. Do not round intermediate calculations.