Fletcher Corporation is debating whether to convert its all-equity capital structure to one that is 41% debt. Currently, there are 2,188 shares outstanding selling at $70 per share. EBIT is expected to remain at $13,966 per year forever. The interest rate on new debt is 6%, and there are no taxes.

You currently hold 100 shares of Fletcher. What will be your annual cash flow under the proposed capital structure? Assume that Fletcher has a 100% dividend payout ratio. (Round answer to 2 decimal places. Do not round intermediate calculations)