Franklin Co. has experienced gross profit ratios for 2016, 2015, and 2014 of 34.00%, 29.25%, and 31.25%, 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	$	146,330
January 1 inventory amount		63,210
Purchases of inventory from January 1 thru April 2		118,988

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