Armaan invests $100,000 in a 5-year PPN tied to the S&P/TSX 60 Index. The PPN has a participation rate of 78%. On the PPN's issue date, the index is at 1102. On the maturity date, the index is at 1881. How much will Armaan receive at maturity?

Please provide your answer to 2 decimal places (e.g. 1234.56