ALLOCATION OF DIVIDENDS BETWEEN PREFERRED AND COMMON STOCKHOLDERS 5 points On October 1, 2020 Devons Compnay declared a $2 per share cash dividend on common stock. Number of shares of $1 par common stock issued and outstanding 25,000 Number of shares of $100 par 3% cumulative preferred stock outstanding 3,000 The company did not pay dividends in 2018 or 2019 What amount of dividends must the company pay the preferred shareholders in 2020 if they wish to pay the common stockholders a dividend? Annual preferred dividend