Assume the following capital structure at December 31, 2018:

Preferred stock, 9%, $50 par value, 2,000 shares issued and outstanding.Preferred dividends were not declared forthree prior years (2015 - 2017).

Common stock, $100 par value, 3,000 shares issued and outstanding.

Total dividends declared and paid in 2016 were $60,000.

How much of the 2016 dividend will be paid to the preferred stockholders assuming the preferred stock isnoncumulative?

Group of answer choices

$51,000.

$36,000.

$9,000.

$24,000.