Consider the following simplified financial statements for the Phillips Corporation (assuming no income taxes):

Income Statement		Balance Sheet
Sales	$29,000	Assets	$10,100	Debt	$5,000
Costs	13,800			Equity	5,100
Net income	$15,200	Total	$10,100	Total	$10,100

Phillips has predicted a sales increase of 11 percent. It has predicted that every item on the balance sheet will increase by 11 percent as well.

Required:

Calculate the dividend paid.