Two debts, the first of $700 due six months ago and the second of $1100 borrowed two years ago for a term of four years at 7.4% compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 6.4% compounded quarterly and the focal date is one year from now. The size of the replacement payment is $. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)