Seoyun and nicole form indigo corporation with the following transfers: inventory from seoyun (basis of $360,000 and fair market value of $400,000) and improved real estate from nicole (basis of $320,000 and fair market value of $375,000). nicole, an accountant, agrees to contribute her services (worth $25,000) in organizing indigo. the corporation’s stock is distributed equally to seoyun and nicole. as a result of these transfers:

Miller mfg. is analyzing a proposed project. the company expects to sell 14,300 units, plus or minus 3 percent. the expected variable cost per unit is $15 and the expected fixed cost is $35,000. the fixed and variable cost estimates are considered accurate within a plus or minus 3 percent range. the depreciation expense is $32,000. the tax rate is 34 percent. the sale price is estimated at $19 a unit, give or take 3 percent. what is the net income under the worst case scenario?