ABC Corp. was organized on Jan 1. Year 1. It was authorized to issue 100.000 shares of $1 par common stock and 20,000 shares of $10 par, 3% cumulative preferred stock. ABC Corp issued the following shares of stock during Year 1 : 1. 50,000 shares of common stock for $8 per share 2. 2.000 shares of preferred stock for $25 per share. If ABC Corp pays a total of $1,000 in dividends at the end of Year 1 , what amount of this dividend will go to Preferred Stockholders? 50 $400 $600 $1,000 $200