Wood Corporation was a C corporation in $2022$ but elected to be taxed as an S corporation in $2023.$ At the end of $2022,$ its earnings and profits were $$15,500.$ The following table reports Wood Corporation's $($taxable$)$ income for $2023($its first year as an S corporation$).$

Wood Corporation

Income Statement

December $31,2023$

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 Corporation's excess net passive income tax for $2023?$