In your new role as compensation analyst, you have been asked to estimate the dollar amount of the profit-sharing pool based on three approaches as well as the allocation of profit-sharing awards to eligible employees. The company's profits equal $35 million. You are considering the following three formulas for determining the total profit-sharing pool.

First-Dollar of Profits: The company agrees to share 3.0 percent of all profits up to $12 million.

Graduated First-Dollar-of-Profits:The company agrees to share 2.0 percent of all profits up to $15 million, and 4.0 percent of all profits up to $40 million.

Profitability Threshold Formula:

The company will share 1.5 percent of the profits above $10 million up to $17 million.

There are 260 employees whose total annual base pay equals $2,100,000

The total profit-sharing pool for:

(Round your answers to the nearest hundredths place.)

1. First-dollar of profits is $

2. Graduated first-dollar of profits is $

3. Profitability threshold formula is $