High Rollers borrowed $12,300 with a 6.50% annual interest rate from the Bank of Montreal on August 1, 20X3. The loan is repayable on March 31, 20X4, at which time the principal and interest are both repayable in full (interest is not paid until the loan matures).

Calculate High Rollers total interest expense for the fiscal year ended December 31, 20X3 (round your answer to the nearest dollar).