Burkert Company has 50,000 shares of $1 par value common stock issued and outstanding. The company also has 2 comma 000 shares of $100 par value, 5% cumulative preferred stock outstanding. Burkert did not pay the preferred dividends in 2018 and 2019. For the common stockholders to receive a dividend in 2020, the board of directors must declare dividends in excess of:

A.

$ 20 comma 000$20,000.

B.

$ 40 comma 000$40,000.

C.

$ 30 comma 000$30,000.

D.

$ 10 comma 000$10,000.