Mega Inc. has 1,000 shares of common stock and 1,000 shares of preferred stock outstanding. The preferred stock has a cumulative dividend preference. Both classes of stock have a par value of $10. The preferred stock has a dividend rate of 6 percent. Mega failed to pay a dividend during the prior year. During the current year, the board of directors declares dividends totaling $2.000. Accordingly, the company will distribute dividends in the amount of:
