Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations:

Budgeted selling price per unit	$	97
Budgeted unit sales (all on credit):
January		10,000
February		12,000
March		13,300
April		15,200

Raw materials requirement per unit of output		4	pounds
Raw materials cost	$	1.00	per pound
Direct labor requirement per unit of output		2.5	direct labor-hours
Direct labor wage rate	$	23.00	per direct labor-hour
Predetermined overhead rate (all variable)	$	9.00	per direct labor-hour
Variable selling and administrative expense	$	3.10	per unit sold
Fixed selling and administrative expense	$	70,000	per month

Credit sales are collected:

30% in the month of the sale

70% in the following month

Raw materials purchases are paid:

30% in the month of purchase

70% in the following month

The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following months raw materials production needs.

If the company estimates that it will need 55,480 pounds of raw material to satisfy production needs in March, then the raw materials inventory balance at the end of February should be closest to: