Firstly, 12345 will be represented exactly in every FP format, it's 0.11000000111001₂ *2^14 (the highlighted part here: 0.1100000011100100 is what the "40E4" is in the hex representation, because the MSB is left off).
And, interestingly, 12345/0.000021 is approximately 2^29, though not quite...