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National Health Corporation ( N H C ) has a cumulative preferred stock issue outstanding, which has a stated annual dividend of $ 8 per

National Health Corporation (NHC) has a cumulative preferred stock issue outstanding, which has a stated annual dividend of $8 per share. The company has been losing money and has not paid preferred dividends for the last five years. There are 450,000 shares of preferred stock outstanding and 750,000 shares of common stock
a. How much is the company behind in preferred dividends?
Note: Do not round intermediate calculations. Input your answer in dollars, not millions (e.g. $1,234,000).
Answer is complete but not entirely correct.
\table[[Preferred dividends in arrears,$13,200,000
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