A company has outstanding 14.00 million shares of $700 par common stock and 2.0 million shares of $5.00 par preferred stock. The preferred stock has an 10% dividend rate. The company declares $400,000 in total dividends for the year. Which of the following is correct if the preferred stockholders only have a current dividend preference? O Preferred stockholders will receive the entire $400.000. but will receive nothing more relating to this dividend declaration. Common stockholders will receive nothing. Preferred stockholders will receive the entire $400.000, and they must also be paid $100.000 before the end of the current accounting period. Common stockholders will receive nothing O Preferred stockholders will receive $40,000 or 10% of the total dividends. Common stockholders will receive the remaining $360.000 O Preferred stockholders will receive the entire $400,000, and they must aliso be paid $100.000 sometime in the future before common stockholders will receive anything