Jimmy Padilla purchased a gravel pit in the current year for $944,232 and estimates that there will be a residual value in the land of $36,404 once resource extraction is complete. He estimates that he will be able to extract a total of 77,103 tons of gravel over the life of the project. In the current year he extracted and sold a total of 16,288 tons of gravel. What is the allowable depletion expense that Jimmy can record under the cost depletion method? Round to the nearest dollar, no decimal places