Company A. provided the following information for fiscal year 2019:

Common stock, $2 par value, 100,000 shares issued and outstanding

Preferred stock, 8%, $100 par value, 5,000 shares issued and outstanding

Total dividends declared and paid in 2019: $180,000

Dividends in arrears for 2017 and 2018

Assuming the preferred stock is cumulative, what is the total amount of dividends paid to the preferred stockholders in the year 2019?

		$180,000
		$60,000
		$40,000
		$140,000
		$120,000