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Arp. Corps outstanding capital stock at December 15, 2013 consisted of the following: 30,000 shares of 5% cumulative preferred stock, par value $10 per share,
Arp. Corps outstanding capital stock at December 15, 2013 consisted of the following: 30,000 shares of 5% cumulative preferred stock, par value $10 per share, fully participating as to dividends. No dividends were in arrears. 200,000 shares of common stock, par value $1 per share. On December 15, 2013, Arp declared dividends of $100,000. What amount of dividends are payable to Aprs common shareholders?
$10,000
$34,000
$40,000
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