Suppose you are thinking about getting into home flipping business. Lucky for you, you found a bank which will loan you $305,847 at a 8% APR interest over a 4 year period, which you will have to payback in equal monthly payment. How much would you have to earn from flipping houses every month to make your monthly payment to the bank? In other words, what is your monthly payment for the loan? (Round up your answer to 2 decimal points)