(Cash dividend and taxes)The Barryman Drilling Company was initially planning on repurchasing $989,000 worth of the company's 460,000 shares of stock, which is currently trading at a price of $10.29per share. Stan Barryman is the founder of the company and still holds 12,000 shares of company stock that he originally purchased for $8.19 per share. After consideration, the company is reconsidering its plan to repurchase its common stock and instead plans to pay the $989,000 as a cash dividend, which amounts to $2.15 per share of common stock. If dividends are taxed at 15 percent, what tax liability does this create for Stan Barryman? What will be Stan's after-tax proceeds from the dividend distribution?

Stan's tax liability on the dividends is:____