A corporation has 14,000 shares of 11%, $70.00 par cumulative preferred stock outstanding and 38,000 shares of no - par common stock outstanding. Preferred dividends of $14,000 are in arrears. At the end of the current year, the corporation declares a dividend of $224,000. What is the dividend per share for preferred stock and for common stock? (Round your answer to the nearest cent.) O A. The dividend per share is $16.00 for preferred stock and $0 per share for common stock. O B. The dividend per share is $8.70 for preferred stock and $2.69 per share for common stock. O C. The dividend per share is $7.00 for preferred stock and $9.20 per share for common stock. O D. The dividend per share is $16.00 for preferred stock and $2.69 per share for common stock