Dan and Baker are in partnership with capital of N50,000 and N30,000 each. The partnership agreement provides that:
(i) profits be shared in the ratio of capital. 
(ii) Baker be paid a salary of N8,000.
(iii) both partners earn interest on capital at 6% p.a.
(iv) both partners pay interest on drawing at 6% p.a. 
At the end of the year, Dan drew N15,000 while Baker drew N14,000 in four installment on 31/3,30/6,30/9 and 31/12. The net profit for the year was N48,000. N5,000 is to be written off the Goodwill account.

What is the interest on the drawing by Baker?

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