Flint Corporation had net income for the current fiscal year of $950,000, and common shares outstanding of 100,000. There were no changes to Flint's common shares during the year. Flint also had outstanding a $1,000,000, 10% bond sold in a previous year that was convertible to 82,000 common shares. In addition, Flint sold a new bond on October 1 of the current year. The new bond was a $1,000,000, 12% bond, convertible to 77,000 shares. Flint was subject to a tax rate of 28%. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). Calculate the after-tax interest paid on the 12% bonds. $ After-tax interest on 12% bonds