(Stock repurchase and taxes) The Barryman Drilling Company is planning on repurchasing $1.19 million worth of the company's 500,000 shares of stock, which is currently trading at a price of $11.93 per share. Stan Barryman is the founder of the company and still holds 17,000 shares of company stock that he originally purchased for $7.69 per share. If Stan decides to sell 2,700 of his shares for $11.93 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.)