The following information is the owners' equity section of the company:

Common Stock ($1 par value; 20 million shares authorized; 4 million shares issued & outstanding	$4,000,000
7% preferred stock ($30 par value; 1 million shares authorized; 400 thousand shares issued & outstanding)	$12,000,000
Additional paid-in capital on common stock	$17,000,000
Retained earnings	$35,000,000
Total stockholders' equity	$68,000,000

The company declares dividends on common & preferred stock annually. On 12/23/Y1, the company declares the annual dividend of $1,500,000 to shareholders of record on 12/31/Y1, to be paid 1/5/Y2. Calculate the total amount of dividend that is allocated to common shareholders and preferred shareholders.

Common Shareholders $______________

Preferred Shareholders $______________