A company has 7500 shares of $50 par value, 4.00% cumulative and nonparticipating preferred stock and 75,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $7500 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: $7500 $7.800 $15,000 $22, 500 $30,000