Hernandez Co had the following stock issued and outstanding at January 1, 2018: 1 1,300,000 shares of $50 par common stock. 2 75,000 shares of $100 par, 5 percent, noncumulative preferred stock On April 2, Hernandez Co declared the annual cash dividend on its preferred stock and a paid on June 1 to the shareholders of record on May 1. 75,000 shares of $0.25 per share dividend for the common shareholders. The dividends will be REQUIRED Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders