On July 1, Carter sold a $7,000 boat to Davis on credit. Davis will use the boat for personal recreation with her family. As part of the deal, Davis completed an installment note payable, called an "IOU," to Carter and a security agreement giving Carter a security interest in the boat. Carter delivered the boat to Davis and never filed a financing statement in the public records.

On August 1, Davis borrowed $5,500 from Bank, using the boat as security. Davis completed a security agreement giving Bank a security interest in the boat. Bank filed a financing statement in the public records on August 6.

On September 1, Davis defaulted on both his installment payment obligation to Carter and his loan obligation to the Bank. Both Carter and Bank want to satisfy Davis's obligation by repossessing and selling the boat. At the time of such repossession, the boat is worth $2,400.

Question:Assume that Carter has the superior right to the boat over both Davis and Bank and repossess the boat. What amount, if any, is Bank entitled to receive from Carter?