The local grocery store expects that customers will use credit cards to pay for a total of

30,000

sales transactions during the month of April. These transactions are expected to amount to

$5,000,000

in total sales revenue. The credit card issuers charge the store a transaction fee equal to

$0.25

per transaction plus

1%

of the amount charged. When budgeting for operating expenses in April, how much should the store expect to incur for credit card transaction fees?

The store should expect to incur credit card transaction fees of

.