Hebron Co. has 20,000, 5%, $40 par value preference shares and 100,000, $10 par value ordinary shares issued and outstanding. No dividends have been paid or declared during 2018 and 2019. As of December 31, 2020, the company declares $264,000 cash dividends. Instructions How much will the preference and ordinary shareholders receive if the preference shares are cumulative and participating in excess of 8%.