In February, a wheat farmer estimates that his crop will produce 25,000 bushels. The current price quoted at his local elevator is $2.52 3/4 per bushel. To provide price protection, he hedges by selling 5 contracts of July wheat for $2.62.3/4. After harvesting his crop in June, he lifts the hedge at a futures price of $2.57 1/2 per bushel and sells his cash wheat at $2.48 1/2. Considering the cash and futures, what was the income from his wheat crop?