Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:

Month	Machine Hours	Electricity Costs
January	2,100	$	19,000
February	2,500	$	22,200
March	1,500	$	14,100
April	2,700	$	24,200
May	3,400	$	28,850
June	2,900	$	23,200
July	3,700	$	25,350
August	3,100	$	23,350
September	1,600	$	16,700
October	3,300	$	27,200
November	4,300	$	32,200
December	3,800	$	28,350

Summary Output
Regression Statistics
Multiple R	0.959
R Square	0.919
Adjusted R2	0.911
Standard Error	1,558.51
Observations	12.00

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	6,967.32	1,631.91	4.27	0.00	3,331.20	10,603.44
Machine Hours	5.76	0.54	10.68	0.00	4.56	6.96

If the controller uses the high-low method to estimate costs, the fixed cost portion of the cost equation for electricity costs is: (Round intermediate calculations to 2 decimal places.)