Maple Tree Mall, Inc., has 7,500 shares of 3%, $30 par cumulative preferred stock and 200,000 shares of $1 par common stock outstanding. At the beginning of the current year, preferred dividends were four years in arrwars. Maple Tree's board of directors wants to pay a $1.20 cash dividend on each share of outstanding common stock in the current year. To accomplish this, what total amount of dividends must Maple Tree declare? $240,000 $267,000 $273,750 Some other amount