Wood Corporation was a C corporation in 2019 but elected to be taxed as an S corporation in 2020. At the end of 2019, its earnings and profits were $15,500. The following table reports Wood Corp.s (taxable) income for 2020 (its first year as an S corporation).

Wood Corporation
Income Statement
December 31, 2020
Sales revenue	$	150,000
Cost of goods sold		(35,000	)
Salary to owners		(60,000	)
Employee wages		(50,000	)
Depreciation expense		(4,000	)
Miscellaneous expenses		(4,000	)
Interest income		8,000
Qualified dividend income		2,000
Overall net income	$	7,000

What is Wood Corporations excess net passive income tax for 2020?