On November $1,2023,$ Mistry Inc. declared $$850,000$ of cash dividends to stockholders of record on December $13,2023.$ Cash is paid to the stockholders January $15,2024.$ Outstanding are $220,000$ no$-$par value common shares wort $$2,000,000$ and $30,000$ no$-$par value, $$4$ cumulative preferred shares worth $$3,000,000.$ No new stock was issued during the year and dividends were last declared in $2019.$ Mistry had retained earnings of $$4,500,000$ at the beginning $2023$ and earned a net income of $$1,200,000$ during the year.

a$.$ Calculate how much Mistry Inc. owes preferred stockholders $($SHOW YOU CALCULATIONS$)$