Willow Run Mall, Inc., has 5,000 shares of 5%, $20 par cumulative preferred stock and 100,000 shares of $1 par common stock outstanding. At the beginning of the current year, preferred dividend were 3 years in arrears. Willow Run's board of directors wants to pay a $1.25 cash dividend on each share of outstanding common stock. To accomplish this, what total amount of dividends must Willow Run declare