Response to the following problem:
Ice Cold Corporation makes dorm-size refrigerators. The company's records show the following unit costs to manufacture part #15498: Direct Materials: $15 Direct Labor: $18 Variable Overhead: $23 Fixed Overhead: $13 Another manufacturer has offered to supply Ice Cold Corporation with part #15498 for a cost of $60 per unit. Ice Cold uses 1,000 units annually.
If Ice Cold Corporation accepts the offer, what will be the short-run impact on income?