At the end of its third year of operations, the Sandifer Manufacturing Co. had

$ 4,517,000

in revenues,

$ 3, 361, 000

in cost of goods sold,

$ 453, 000

in operating expenses which included depreciation expense of

$ 157,000

,

and a tax liability equal to

34

percent of the firm's taxable income. Sandifer Manufacturing Co. plans to reinvest

$ 58, 000

of its earnings back into the firm. What does this plan leave for the payment of a cash dividend to Sandifer's stockholders?