Richard Ingram just bought 1,000 shares of Sisson Electronics at $40 per share. He plans to hold the stock for one year before selling. Sisson is in the process of selecting a new dividend policy. The firm will either pay out all of its earnings in dividends or retain and reinvest them all. Analysts expect the stock to be worth $45 in one year’s time if no dividends are paid and $40 if dividends of $5 per share are distributed. How much difference will Sisson’s decision make in Richard’s after-tax income? Assume Richard is in the 25% bracket.