bedford corp has $2,000 of dividends in arrears. In 2020 the board of directors declarw a $100,000 cash dividend. 5,000 shares of cumulative 8% $100 par value preferred stock are issued and outstanding. How much will the preferred stockholders receive?

Bedford Corporation has $20,000 of dividends in arrears. In 2020 the board of directors declare a $100,000 cash dividend. 5,000 shares of cumulative 8% $100 par value preferred stock are issued and outstanding. How much will the preferred stockholders redeive? $100,000 $20,000 $60,000 $40,000