A payment of $$1,020$ scheduled to be paid today and a second payment of $$1,310$ to be paid in eight months from today are to be

replaced by a single equivalent payment.

What total payment made today would place the payee in the same financial position as the scheduled payments if money can earn

$21/4\%?($Do not round intermediate calculations and round your final answer to $2$ decimal places.$)$

Equivalent payment

$