Tom bought a house for $400,000 and financed with with a mortgage. 12 years later, his house has appreciated and is now worth $980,000. He still has gremaining balance on his loan of $252558. He is considering a cash-out refinancing and getting a new mortgage at 80% LTV. How much cash will Tom be able to take out with this refi? Assume there are no costs. State your answer as a number with two decomal points (e.g. if you get $100,000.683, write 100000.68 )