P16-10 (similar to) Question Help o (Stock repurchase and taxes) The Barryman Drilling Company is planning on repurchasing $1.01 million worth of the company's 500,000 shares of stock, which is currently trading at a price of $10.12 per share. Stan Barryman is the founder of the company and still holds 19,000 shares of company stock that he originally purchased for $8.46 per share. If Stan decides to sell 2,900 of his shares for $10.12 a share, what will be his after-tax proceeds where capital gains are taxed at 15 percent? Stan's after-tax proceeds from the sale are $ (Round to the nearest dollar.)