A few months ago, Sally had signed an agreement with Edward that she would pay him $1,200 today and another $990 in 8 months. Sally can't afford to make her first payment today and has asked Edward if she can just pay him one lump sum in 3 months that would be equivalent to the two original payments. What should that payment be if money can earn 5.25% simple interest? Use the 3 month mark as your focal date. Express your answer with 2 decimal places