8. Outstanding stock of the Larson Corporation included 40,000 shares of $5 par common stock and 10,000 shares of 5%, $10 par noncumulative preferred stock. In 2016, Larson declared and paid dividends of $4,000. In 2017, Larson declared and paid dividends of $12,000. How much of the 2017 dividend was distributed to preferred shareholders? A) $6,000 B) $7,000 D) None of these answer choices are correct