Ms. Chalupshka has operated an accounting practice with a December 31 year-end since 2012. She paid $16,000 for a client list when she started the practice in 2012. On August 27, 2016, she sold the practice, including her client list which was allocated $28,000 of the proceeds. The balance in the CEC account on January 1, 2016 was $8,976.

REQUIRED
Compute Ms. Chalupshka’s business income from the sale of the client list in 2016.