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A company was organized on January 1 , 2 0 2 1 . During its first year, the company issued the following stock and have

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A company was organized on January 1,2021. During its first year, the company issued the following stock and have made no other stock issuances since:
Preferred Stock (5%,$100 par, cumulative, 10,000 shares authorized, 5,000 issued and outstanding) Common Stock ( $5 par, 100,000 authorized, 80,000 issued, 75,000 outstanding)
On December 31, the company declared the following cash dividends in each respective year::
2021: $5,000;2022:$32,000;,2023:$54,000
Determine the total amount of dividends that the preferred stockholders received during the years 2021-2023:
A. $91,000
B. $75,000
C. $16,000
D. $25,000
E. $29,000
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