Calculate the expected loss for $2024$ in the following business situation.

Somulate Inc. makes sales of its products and services and extends credit to its customers. Base terms are $2/15,$ n$30(2\%$ discount if paid within $15$ days or the net is due within $30$ days$).$ The credit is unsecured and the potential exposure in $2024$ is equal to the ending $2023$ Accounts Receivable balance. In other words, the exposure rate is $100\%.$

Default probability is calculated by taking a rolling $4-$year average of the write$-$off percentage $($write$-$offs$/$ending Accounts Receivable$).$ The recovery percentage used is $45\%.$ Round percentages to $2$ decimal places.

Accounts Receivable Write$-$offs

$2019$ $$1,425,000$ $$30,000$

$20201,545,98532,987$

$20211,298,11329,458$

$20221,681,55733,451$

$20231,900,25435,877$