50. The annual dividend on nonconvertible cumulative preferred shares is $10,000. At the beginning of the current year, there were 3 years of dividends in arrears. During the current year, $38,000 of dividends on the preferred shares was declared, and $35,000 were paid. What amount of dividends on preferred shares will be subtracted from earnings when computing basic EPS for the current year? A. $40,000 B. $10,000 C. $38,000 D. $35,000 E. $30,000