A borrower is given a $500,000 30 year fully amortizing 3/1 Hybrid ARM with an initial rate of 2.75%. The terms of the loan are as follows: The loan's interest rate will adjust annually according to the 10 year LIBOR index, no interest rate caps or floors, has a margin of 2%. In year 2, LIBOR is at 3.5%. In year 3, LIBOR is at 4%. In year 4, LIBOR is at 4.5%. How much larger (in dollars, rounded to the nearest cent) is the payment at the first reset date than the initial payment?