Malia owns 60 shares of XYZ Co., with an adjusted basis of $2,940. On February 14, 2019, she sells the 60 shares for their FMV of $2,700. On March 1, 2019, she purchases 35 shares of XYZ Co., for $1,540. What is the adjusted basis for the 35 shares purchased on March 1, 2019?