Question $4(1$ point$)$

Burton Inc. has two classes of stock, $10\%$$$100$ par cumulative Preferred Shares and $$1\mathrm{.}40$ par Common Shares. Currently there are $8,000$ shares of the preferred and $76,000$ shares of the common shares outstanding. Last year there was a disaster that wiped out a major division and so there was no dividend. In the earlier years $($before the disaster$),$ a dividend was declared and paid that exceeded the maximum for the preferred shareholders. A dividend for the current year was just declared in the amount of $$280,000.$

What is the amount of dividends that will go to the common shareholders?