Laura & Marty, Ltd did not pay dividends on its 7.5%, $100 par value cumulative preferred stock during 2015 of 2016. Since 2009, 1, 30,000 shares of this stock have been outstanding Laura & Marty, Ltd has been profitable in 2017 and is considering a cash dividend on its common stock that would be payable in December 2017. Calculate the amount of dividends that would have to be paid on the preferred stock before a cash dividend could be paid to the common stockholders