Castle, Inc. has 20,000 shares of $1 par value common stock and 10,000 shares of cumulative 8%,

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Castle, Inc. has 20,000 shares of $1 par value common stock and 10,000 shares of cumulative 8%, $100 par preferred stock outstanding. Castle has not paid a dividend for the prior year. If Castle declares a $2.50 per common share dividend this year, what will be the total amount they must pay to all of their shareholders? Select one: a. $210,000 O b. $75,000 c. $130,000 O d. $50,000