Watkins Resources faces a smooth annual demand for cash of $$1\mathrm{.}64$ million, incurs transaction costs of $$71$ every time the firm sells

marketable securities$,$ and can earn $3\mathrm{.}3$ percent on its marketable securities$.$

What will be its optimal cash replenishment level? $($Enter your answer in dollars not in millions. Round your answer to $2$ decimal

places.$)$

Optimal cash