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A company was organized on January 1, 2019. During its first year, the company issued the following stock and have made no other stock

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A company was organized on January 1, 2019. 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: 2019: $5,000; 2020: $32,000; 2021: $54,000 Determine the total amount of dividends that the preferred stockholders received during the years 2019-2021: O $91,000 $75,000 $16,000 $25,000 O $29,000 A

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