A trader intends to sell 230,543lb of copper on the spot market on April 28 and decides to set up a hedge against unfavorable price movements. On February 28, the trader initiates the hedge by opening a position in 11 copper futures contracts 25,000lb each. On the day, the spot price is 3.224/lb and the price of copper futures is 3.057/lb. On April 28, the trader liquidates the hedge by closing the futures position and simultaneously selling copper on the spot market. On that day the spot price is 3.1/lb and the price of copper futures is 2,323/lb. Determine the effective net price received by the trader for copper on April 28