Last year, Absolute Zero Freezers paid a dividend equal to $$1\mathrm{.}07$ per share. Absolute follows the low regular dividend plus extras policy to determine its annual dividend. The policy requires the minimum dividend to be increased by $40$ percent of the amount of earnings that exceeds $$35,000.$ Last year's earnings were $$45,000.$ If Absolute has $40,000$ shares outstanding, how much is the minimum $($low regular$)$ dividend that the firm pays each year? Do not round intermediate calculations. Round your answer to the nearest cent.