You've Made It Corporation presents the following partial balance sheet as of December 31, 2015:
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Stockholders' Equity
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Contributed Capital
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Preferred stock, 4% cumulative ($25 par value; 50,000 shares authorized;
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30,000 shares issued and outstanding )
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$ 750,000
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Capital in excess of par, preferred stock
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225,000
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Common stock ($0.01 par value; 800,000 shares authorized; ________ shares issued and ____ shares outstanding
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5,000
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Capital in excess of par, common stock
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1,300,000
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Total contributed capital
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$ 2,280,000
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Retained Earnings
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1,020,000
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Treasury Stock, 40,000 common shares, at cost
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(120,000)
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Total stockholders' equity
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$ 3180,000
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How much capital did the company raise by issuing preferred stock?