Brief Exercise 10-7 Determine the amount of preferred stock dividends (1.010-3) Racers Designs han 1,400 s wes om%,$50 per vale ni e p eered stock-ed- the beg ring O' 2016 A enal ing s ares on or to k Dato eash fou enie. the emp ny w- nt able to pay didends in 2016 or 2017. The company pians to pay total dividends of $16,000 in 2018. Haw nuch of the $16,000 avidend wil be pald to preferred stockholers nd how much wia be pad to