Tommen, Inc. has the following stock issued as of December 2015:
5% Preferred Stock, $100 par, 10,000 shares issued and outstanding
Common Stock, $5 par, 50,000 shares issued and outstanding
The preferred stock dividend is cumulative. Dividends were paid in 2013, but were not paid during 2014. On December 15, 2015, Tommen declares dividends of $210,000. How much of this dividend will be distributed to Preferred Stock?