Sunrise Poles manufactures hiking poles and is planning on producing 3,599 units in March and 4,260 in April. Each pole requires a half pound of material, which costs $1.26 per pound. The company's policy is to have enough material on hand to equal 7% of the next month's production needs and to maintain a finished goods inventory equal to 19% of the next month's production needs. What is the budgeted cost of purchases for March? Round to the nearest penny, two decimal places.