In addition to its common stock, Davis Corp. had 20,000 shares of $45 par value, 8%, cumulative preferred stock outstanding for all of 20x5. Davis did not declare any dividends for the past two years (20X4 and 20X3); however, it will declare and pay a dividend of $300,000 in 20X5 to be distributed between its preferred and common shareholders. Question: What portion of the total 20X5 declared dividend amount should preferred stockholders receive? Answer: $ (note: do not use commas, decimals, or cents)