Phoenix Company’s 2017 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units.

PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2017

Sales $3,375,000
Cost of goods sold Direct materials $1,050,000
Direct labor 150,000
Machinery repairs (variable cost) 45,000
Depreciation—Plant equipment (straight-line) 315,000
Utilities ($30,000 is variable) 190,000
Plant management salaries 200,000 1,950,000
Gross profit 1,425,000
Selling expenses
Packaging 60,000
Shipping 90,000
Sales salary (fixed annual amount) 260,000 410,000

General and administrative expenses
Advertising expense 127,000
Salaries 241,000
Entertainment expense 90,000 458,000
Income from operations $557,000

Required:
The company's business conditions are improving. One possible result is a sales volume of 18,000 units. The company president is confident that this volume is within the relevant range of existing capacity. How much would operating income increase over the 2017 budgeted amount of $159,000 if this level is reached without increasing capacity?