Lakeview School, a private high school, is preparing a planned income statement for the coming academic year ending August 31, 20X7. Tuition revenues for the past 2 years ending August 31 were 20X6: $820,000, and 20X5: $870,000. Total expenses for 20X6 were $810,000 and in 20X5 were $830,000. No tuition rate changes occurred in 20X5 or 20X6, nor are any expected to occur in 20X7. Tuition revenue is expected to be $810,000 for 20X7. What net income should be planned for 20X7, assuming that the implied cost behavior remains unchanged?