As of 2012, Lowell Corp. has $10 par, 5% preferred stock, 4,000 shares outstanding, and $1 par common stock with 20,000 shares outstanding. The preferred stock is cumulative and preferred stockholders last received a dividend in 2011. If the company wants to distribute $2 per share to the common stockholders in 2012, what is the total amount of dividends that the company must pay in the current year assuming that the last preferred dividend was paid in 2011?