Elm RunElm Run

?Mall, Inc., has 4,000 shares of 4?%, $25 par cumulative preferred stock and 175,000 shares of $1

par common stock outstanding. At the beginning of the current? year, preferred dividends were four years in arrears.

Elm RunElm Run?'s board of directors wants to pay a $1.60 cash dividend on each share of outstanding common stock in the current year. To accomplish? this, what total amount of dividends must Elm Run declare?