A buyer offers, in writing, to pay $295,000 for a property. The buyer makes a down payment of 30% and finances the balance by obtaining a 30-year conventional loan. The factor for the PI payment is $7.34 per thousand. The lender opens an escrow account for payment of the annual property taxes of $3,000 and the property insurance premium of $600, collecting 1/12th of those amounts with the monthly payment. What is the monthly PITI payment for this borrower?