Boehm Corporation has had stable earnings growth of 1.46% a year for the past 10 years and in 2013 Boehm paid dividends of $354,000 on net income of $2,950,000. However, in 2014 earnings are expected to jump to $4,430,000, and Boehm plans to invest $2,210,000 in a plant expansion. This one-time unusual earnings growth won't be maintained, though, and after 2014 Boehm will return to its previous 1.46% earnings growth rate. Its target debt ratio is 13.0%. What will be its total 2014 dividend if it continues the 2013 dividend payout ratio?

1. $310,100
2. $531,600
3. $1,012,800
4. $4,635,000
5. $3,967,200