Evander Holyfield (the champion boxer who had part of his ear bitten off by Mike Tyson) made $250 million during his boxing career but declared bankruptcy because of poor financial choices. His July interest at 12% was $13.50. What was Evander’s principal at the beginning of August (assume 360 days)? 

(Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.)