County Hospital purchased equipment for $8,692. The equipment has an expected useful life of 8 years and is expected to have a salvage value of $1,200 at the end of that time. What is the estimated book value at the end of year 2? Enter your answer in dollars and cents, rounded to the nearest penny. Do not enter the dollar sign or any commas. For example, if your answer is $1,234.5678, enter as 1234.57