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

Income Statement		Balance Sheet
Sales	$25,000	Assets	$10,000	Debt	$4,600
Costs	13,200			Equity	5,400
Net income	$11,800	Total	$10,000	Total	$10,000

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. (Do not round your intermediate calculations.)