Caladddays function is not calculating for next year and retrogressing back to same year

Hi All,

I have a scenario where if an expected SLA date&time falls on a non-working day, I need to get next working day value.

For example, I have my initial submitted date as 12/27/2023 2:01 PM PST and expected SLA date time based on some biz logic should be 1/2/2024 7:01 AM PST. I have used the below logic but somehow instead of getting the SLA date result for next year as 1/2/2024 7:01 AM PST, I am getting the SLA date result in the same year as 1/2/2023 7:01 AM PST.
Please note correct process calendars are used and Dec 30 2023,  Dec 31 2023 and Jan 1 2024 are all set as non-working day.

Please help/advise on how I can update to get the correct value:

local!finalSLADateTime:
if(
calisworkday(1/1/2024 7:01 AM PST, local! Calendar),
1/1/2024 7:01 AM PST,
1/1/2024 7:01 AM PST + (dayofyear(caladddays(1/1/2024 7:01 AM PST, 0, local! Calendar)) - dayofyear(1/1/2024 7:01 AM PST))
),