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At the beginning of Year1, Emily Corporation issued 10,000 shares of $100 par, 5%, cumulative, preferred stock for $110 per share. No dividends have been

At the beginning of Year1, Emily Corporation issued 10,000 shares of $100 par, 5%, cumulative, preferred stock for $110 per share. No dividends have been paid to preferred shareholders in Year1 or Year2. What amount of dividends will Emily Corporation pay to preferred shareholders in Year3 if Emily pays $1,000,000 in dividends in year3?

a. $165,000. b. $ 50000. c. $ 1,000,000. d. $ 150,000.

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