On January 1, you sold short one round lot (that is, 100 shares) of Lowe's stock at $27.70 per share. On March 1, a dividend of $3.30 per share was paid. On April 1, you covered the short sale by buying the stock at a price of $22.00 per share and returned your borrowed shares. You paid 25 cents per share in commissions for each transaction. What is the proceeds from the short sale (net of commission) on January 1? (Round your answer to 2 decimal places.)

Proceeds from the short sale: $