Bloodthirsty Pirates


A pirate ship captures a treasure of 1000 golden coins. The treasure is to be split among the pirates: 1,2,3,4, and 5 in order of rank. The pirates have the following important characteristics:

Starting with pirate 5 they can make a proposal how to split up the treasure. This proposal can either be accepted or the pirate is thrown overboard. A proposal is accepted if and only if a majority of the pirates agree on it.

What proposal should pirate 5 make?