Franklin Co. has experienced gross profit ratios for 2013, 2012, and 2011 of 34.00%, 30.75%, and 32.75%, respectively. On April 3, 2014, the firm's plant and all of its inventory were destroyed by a tornado.

Accounting records for 2014, which were available because they were stored in a protected vault, showed the following:

Sales from January 1 thru April 2	$	140,330
January 1 inventory amount		63,680
Purchases of inventory from January 1 thru April 2		118,778

Required:

Calculate the amount of the insurance claim to be filed for the inventory destroyed in the tornado. (Hint: Use the cost of goods sold model and a gross profit ratio that will result in the largest claim.) (Round your answer to nearest whole dollar amount.)