G. E. Spring employs Trent Pelligrini at a salary of $47,800 a year. Spring is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Pelligrini's salary. In addition, Spring must pay SUTA tax at a rate of 5.7% and FUTA tax at a rate of 0.6% on the first $7,000 of Pelligrini's salary.

Compute the total cost to Spring of employing Pelligrini for the year. Round your answer to the nearest cent