Under the assumption that KMS's market share will increase by 0.23% per year, you determine that the plant will require an expansion in 2015. KMS's current outstanding debt, the interest on the debt, and the interest tax shield are given in the table below. The expansion will cost $20.6 million. Assuming that the financing of the expansion will be delayed accordingly (end of 2015), calculate the projected interest payments and the amount of the projected interest tax shields (assuming that KMS still uses a 10-year bond, interest rates remain the same at 7.3%, and KMS's tax rate is 35%) through 2018.

Current values ($000) 2013 2014 2015 2016 2017 2018

Outstanding debt before expansion $4,450 $4,450 $4,450 $4,450 $4,450 $4,450 $4,450

Interest on debt before expansion $ 325 $325 $ 325 $325 $ 325 $325 $ 325 $325 $ 325 $325 $ 325 $325

Interest Tax Shield before expansion $ 114 $114 $ 114 $114 $ 114 $114 $ 114 $114 $ 114 $114 $ 114 $114

The total projected interest payments beginning in 2015 will be $_______ . (Round to the nearest dollar.)