Granfield Company is considering eliminating its backpack division, which reported a loss for the recent year of $44,500 as shown below. Sales Segment Income (Loss) Variable costs Contribution margin Fixed costs Income (loss) $970,000 480,000 490,000 534,500 $ (44,500) If the backpack division is dropped, all $480,000 of its variable costs are avoidable, and $213,800 of its fixed costs are avoidable. The impact on Granfield's income from eliminating this business segment would be: