Rose Axels faces a smooth annual demand for cash of $5.01 million, incurs transaction costs of $276 every time the company sells marketable securities, and can earn 4.4 percent on its marketable securities. What will be its optimal cash replenishment level? (Enter your answer in dollars not in millions. Round your answer to 2 decimal places.) Complete the following analysis. Do not hard code values in your calculations, land do not round intermediate calculations