a company has 250,000 shares of $1 per value common stock outstanding and 100,000 shares of 6%, 50$ par value cumulative preferred stock outstanding. As of December 31, 2017, there were no preferred dividends in arrears. The following occurred in 2018, 2019, and 2020:

- The company declared and paid cash dividends totaling $160,000 in 2018.

- The company declared and paid cash dividends totaling $85,000 in 2019.

- In 2020, the company declared and will pay cash dividends of $800,000.

What is the amount of cash dividends payable to common shareholders in 2020?