Adam Pratt desires to purchase a hotel franchise from Friendly Inn. The costs associated with the franchise are as follows Initial fee: $150 per room Monthly royalty: 3% of gross sales Advertising Fees: 2% of gross sales Reservation Fees: $2.00 for each confirmed reservation Adam's Friendly Inn would be a room-only lodging property of 100 rooms. The average daily rate is forecasted to be $55, and the daily occupancy percentage for the year is expected to be 70%. 20% of the total rooms are expected to come through the franchisor's reservation Calculate the estimated first-year franchising costs to Adam's proposed Friendly Inn. Include the initial fee as part of the first year's costs. (Round the cost to dollar)