Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:

MonthMachine HoursElectricity CostsJanuary2,700$18,500February3,100$21,200March2,100$13,600April3,300$23,200May4,000$28,350June3,500$22,200July4,300$24,850August3,700$22,850September2,200$15,700October3,900$26,200November4,900$31,200December4,400$27,850

Summary OutputRegression StatisticsMultiple R0.965R Square0.930Adjusted R²0.923Standard Error1,443.07Observations12.00

CoefficientsStandard Errort StatP-valueLower 95%Upper 95%Intercept2,728.641,800.971.520.16(1,284.17)6,741.44Machine Hours5.770.5011.560.004.666.88

Based on the results of the high-low analysis, the estimate of electricity costs in a month with 2,400 machine hours would be