1. Quick sales, Inc. It was profitable from its inception until 2016 and paid out strong dividends each year. Quicksales suffered huge losses in 2017 and did not pay dividends. In 2018, the company started making huge profits again and was able to pay both common and preferred long-term dividends to all shareholders. Cumulative 2.400 shares, 13% preferred shares outstanding. The face value of preferred stock is $100 to $100.
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3. What is the total amount of dividend payable to preferred shareholders in December 2018?