You have written a put option on Bobcat Inc. common stock. The option has an exercise price of $32 and Bobcat's stock currently trades at $33.75. The option premium is $1.10 per share. What is your net profit on the contract if Bobcat's stock decreases to $28 at expiration of the option and the option holder exercises the option? (Assume 100 shares per contract. Do not round intermediate calculations and input your final answer rounded to two decimals. Negative values should be notated with a negative sign.)