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Robbins Petroleum Compariy is six years in arrears on cumulative preferred stock dividends. There are 770.000 preferred shares outstanding. and the arinual dividend is $9.50 per share. The Vice-President of Finance sees no real hope of paying the dividends in arrears. She is devising a plan to cornpensate the preferred stockholders for 80 percent of the dividends in arrears. -. How much should the compensation be? Note: Do not round intermediate calculations, Input your answer in dollars, not millions (e.9.$1,234,000). b. Pcobins wil compensate the preferred stockholders in the form of bonds poying 12 percent interest in a market environment in Which the going rate of interest is 14 percent for similar bonds. The bonds will have a 15 -year maturity Using the bond valuation Which the going rate of interest is is percent for s mitar bonds The Mote: Round your answer to the nearest whole number. Note: Do not reund intermedinte celcuiations and round your answer to the nenreat whole number