Cook-Rite Corporation issued 200,000 shares of $20 par value, 6% preferred stock on January 1, 2018, for $4,500,000. In addition, it issued 1,000,000 shares of no par, common stock that are all outstanding. In December 2020, Cook-Rite declared its first dividend of $800,000. If the preferred stock is hot cumulative, how much of the $800,000 would be paid to common stockholders? 100,000 800,000 240,000 560,000