Holiday Hotel Corporation has 1,500,000 shares of common stock and 150,000 shares of cumulative preferred stock. The annual dividend on the preferred stock is $4.75 per share. The only dividends paid last year were to preferred stockholders in the amount of $2.50 per share. This year the board of directors decides to distribute $3,750,000 in dividends. You own 50 shares of common stock. What amount will you receive this year? Round to the nearest cent.