Consider an investor who, on January 1, 2XX1, purchases a TIPS bond with an original principal of $175,000, an 7 percent annual coupon rate, and 5 years to maturity. If the semiannual inflation rate during the first six months is 1.2 percent and the semiannual inflation rate for the second six-month period is 1.5 percent, calculate the coupon payment to the investor for the first six-month period. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))