Homestead Oil Corp. was incorporated on January 1, 2016, and issued the following stock for cash:

870,000 shares of no-par common stock were authorized; 150,000 shares were issued on January 1, 2016, at $18.00 per share.

290,000 shares of $100 par value, 9.00% cumulative, preferred stock were authorized, and 67,000 shares were issued on January 1, 2016, at $150 per share.

Net income for the years ended December 31, 2016 and 2017, was $1,460,000 and $2,490,000, respectively.

No dividends were declared or paid during 2016. However, on December 28, 2017, the board of directors of Homestead declared dividends of $1,510,000, payable on February 12, 2018, to holders of record as of January 19, 2018.

. Of the total amount of dividends declared during 2017, how much will be received by preferred shareholders?