The prepaid insurance balance of $12,000 at December 31, 2013 is for an annual property and liability policy with an annual cost of $24,000. The policy was purchased on July 1, 2013 and expires on June 30, 2014. The payment for health and all other benefits is $6,125 every two months. In January, the company issued the payment for January and February. There was no prepaid balance for the health insurance as of December 31, 2013. What is the monthly insurance expense rate for January?