Belford Corp. wants to raise $4.0 million via a rights offering. The company currently has 500,000 shares of common stock outstanding that sell for $36 per share. Its underwriter has set a subscription price of $25 per share and will charge the company a spread of 4%.

If you currently own 4,000 shares of stock in the company and decide not to participate in the rights offering, how much money can you get by selling your rights?