Rena purchased 300 shares of an equity mutual fund. During the year she received $5 per share in dividend distributions, $4 in capital gain distributions, and capital gains of $1,400 when she sold the stock after owning it eight months. What are the tax consequences of Rena's ownership of this equity fund? Rena is in a 29% marginal tax bracket. The federal tax consequences of Rena's ownership of this stock fund are $ (Round to the nearest cent.)