On June 1, 2021, Meghan purchased a $10,000 corporate bond at par value. She purchased the bond in between interest dates, as the bond pays annual interest of 5% on September 1 of each year. At the time of purchase, Meghan paid $374 in accrued interest. On September 1, 2021, she received a $500 annual interest payment on the bond. This was Meghan's only interest income for the year.

What is the total amount of taxable interest that should be reported on Meghan's Form 1040?