Franklin Co. has experienced gross profit ratios for 2016, 2015, and 2014 of 35.00%, 29.00%, and 32.00%, respectively. On April 3, 2017, the firm's plant and all its inventory were destroyed by a tornado. Accounting records for 2017, which were available because they were stored in a protected vault, showed the following:

Sales from January 1 thru April 2	$	141,460
January 1 inventory amount		63,810
Purchases of inventory from January 1 thru April 2		118,326

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.) (Do not round intermediate calculations.)