Oak cliff company has 5,000 shares of $50 par value, 4% cumulative preferred stock and 100,000 shares of $2 par value common stock outstanding. The comapny's board of directors wants to pay a cash divident of $1.25 per share to the common stockholders. Assuming the dividend on the preferred stock is four yeas in arrears, what toal amountof dividents must the board declare to achieve its goal?