Mayflower Corporation has only one class of stock. There are 71,000 shares outstanding. During 2013, the corporations net income after taxes was $745,500. The policy of the corporation is to declare dividends equal to 20 percent of its net income. Sherrye White owns 160 shares of the stock.

How much will White receive as a dividend on his shares? (Round dividend per share to 2 decimal places. Omit the "$" sign in your response.)