Stubbs Company uses the perpetual inventory method. On January 1, Year 1, Stubbs purchased 1,250 units of inventory that cost $10.50 each On January 10, Year 1, the company purchased an additional 600 units of inventory that cost $6.50 each. If Stubbs uses a weighted average cost flow method and sells 1600 units of inventory for $21.00 each, the amount of gross margin reported on the income statement will be: (Round your intermediate calculations to two decimal places.)