Saved 3 Selected T-accounts for Jade Mineral Corporation at December 31, 2020, are duplicated below. Preferred Shares, $6 cumulative 10,000 shares authorized 7,000 shares issued 5 oints 161,000 161,000 Dec. 31/19 Bal. Dec. 31/20 Bal. Skipped 50,000 shares authorized Common Shares, 45,000 shares issued Print 495,000 495,000 Dec. 31/19 Bal. Dec. 31/20 Bal. C raw Retained Earnings 116,000 Dec. 31/19 Bal. ? Dec. 31/20 Bal.. Note: Dividends were not paid during 2018 or 2019. Dividends of $3.80 per common share were declared and paid for the year ended December 31, 2020. 2018 was the first year of operations. All shares were issued in the first year of operations. Required: Using the information provided, answer the following questions. 1. What is the total amount of dividends that the preferred shareholders are entitled to receive per year?