Copley Company has 2,000 shares of 7%, $300 per value cumulative preferred stock outstanding No dividends were paid in Year 1, but in Year 2 Copley Company declares and pays dividends totaling $110.000 How much of the dividend in Year 2 will be paid to the preferred and common stockholders? Multiple Choice Preferred $55,000 Common $55,000 Preferred $110.000 Common $0 Common Preferred $84.000 $26.000 Preferred $42.000 Common $68.000 Preferred $55,000 Common $55,000 Preferred $110,000 Common $-0- Preferred $84.000 Common $26,000 Common Preferred $42.000 $68,000 Preferred $15,400 Common $94,600