A corporation has 17,000 shares of 12%, $70 par cumulative preferred stock outstanding and 31,000 shares of no - par common stock outstanding. Preferred dividends of $34,500 are in arrears. At the end of the current year, the corporation declares a dividend of $240,000. What is the dividend per share for preferred stock and for common stock? (Round your answer to the nearest cent.) A. The dividend per share is $14.12 for preferred stock and $2.02 per share for common stock. B. The dividend per share is $7.00 for preferred stock and $8.12 per share for common stock. C. The dividend per share is $14.12 for preferred stock and $0 per share for common stock. D. The dividend per share is $10.43 for preferred stock and $2.02 per share for common stock