The Armer Company is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested that linear regression be employed to derive an equation in the form of y = a + bx for maintenance costs. Data regarding the maintenance hours and costs for last year and the results of the regression analysis are as follows:

	Hours of Activity		Maintenance Costs
January	460		$ 4,000
February	330		3,100
March	390		3,600
April	280		2,920
May	500		4,340
June	290		2,940
July	300		3,130
August	490		4,780
September	460		4,310
October	480		4,180
November	320		3,600
December	320		3,200
Sum	4,620		44,100
Average	385		3,675

A coefficient			1,017.90
B coefficient			6.9016
Standard error of the a cofficient	284.392
Standard error of the a cofficient	0.72197
Standard error of the estimate			208.373
R2			0.90136
T-value a			3.579
T-value b			9.559

Using the high-low method to estimate cost behavior, 500 maintenance hours in a month would mean the maintenance costs would be budgeted at: (Round your intermediate calculations and final answer to 2 decimal places.)