Norton Corporation has the following shareholders equity on September 30, 2021:

Shareholders' equity

Share capital

$10 preferred shares, cumulative

10,000 shares authorized, 5,000

shares issued$5,000,000

Common shares,

200,000 shares authorized, 10,000 shares issued200,000

Total share capital 5,200,000

Retained earnings570,000

Total shareholders' equity $5,770,000

On September 15, 2021, Norton Corporation declared a $170,000 dividend to be paid on October 15 to shareholders of record on September 30. Assuming that the preferred dividends have NOT been paid since 2019, the total amount of the dividend paid to the preferred shareholders in 2021 would be