A factory assembles laptops. During a period, 20,000 assemblies valued at $100,000were transferred from process 1 to process 2. There was no opening WIP in process 2 for this period.During the period, $56,400 of additional cost was incurred in process 2. At the end of the period18,000 units has been completed and 2,000 units were 40% complete.What is the cost of the closing work in process in process 2?