<b>What will be the output for the following code?</b>

<span style="font-weight: 400;">let name = 'John';</span>

<span style="font-weight: 400;">setTimeout(() =&gt; {</span>

<span style="font-weight: 400;">  name = 'Alice';</span>

<span style="font-weight: 400;">  console.log(`Hello, ${name}!`);</span>

<span style="font-weight: 400;">}, 1000);</span>