Ward and June are in the 28% tax bracket. Included in their assets is a dell computer corporation bond with a face value of $10,000. The bond pays $1,000 a year in interest. Ward and June gift the bond to their son, Wally (age 19), on January 1, 2011. Wally is in the 15% tax bracket. The 2011 net tax savings for the family unit of Ward, June and Wally related to the transfer of the bond is