Palestine Corporation has $800.000 of 6% preferred stock, and $3,200,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2019 and 2020. As of 12/31/21, it is desired to distribute $360,000 in dividends How much will the prefered stockholders receive if their stock is cumulative and participating up to 11% in total?