Finance Help: Figurate Industries has 780,000 shares of cumulative preferred stock outstanding.

Figurate Industries has 780,000 shares of cumulative preferred stock outstanding. It has passed the last three quarterly dividends of ​$1.60 per share and now​ (at the end of the current​ quarter) wishes to distribute a total of ​$12 million to its shareholders. If Figurate has 2.6 million shares of common stock​ outstanding, how large a​ per-share common stock dividend will it be able to​ pay?

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