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BigBrother Company has 22,000 shares of $1 par common stock issued and outstanding. The company also has 2,600 shares of $100 par 4% cumulative preferred

BigBrother Company has 22,000 shares of $1 par common stock issued and outstanding. The company also has 2,600 shares of $100 par 4% cumulative preferred stock outstanding. The company did not pay the preferred 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?

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