Mini-Exercise 8-3 (Static) Preferred stock-calculate dividend amounts LO 8-2 Bill \& Lisa Limited did not pay dividends on its 6.5%,$100 par value cumulative preferred stock during 2021 or 2022. Since 2015 . 275,000 shares of this stock have been outstanding. Bill \& Lisa Limited has been profitable in 2023 and is considering a cash dividend on its common stock that would be payable in December 2023. Required: 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