Assume an investor-owned (for-profit) hospital must offer a 8 percent interest rate on its new bonds. John Smith, an individual investor with a 37 percent tax rate, buys one $1,000 bond. What is the effective (after-tax) annual interest? Round your final answer to the nearest dollar amount. Omit the "\$" sign and commas in your response. For example, $1,234 should be entered as 1234