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Corrao Foods Corporation has 8,000 shares of 6% $20 par value, cumulative preferred stock and 150,000 shares of $1 par value common stock outstanding at
Corrao Foods Corporation has 8,000 shares of 6% $20 par value, cumulative preferred stock and 150,000 shares of $1 par value common stock outstanding at December 31, 2014. In 2013, a $3,000 dividend was declared and paid. In 2014, $39,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2014?
A.$9,600
B.$39,000
C.$16,200
D.$19,200
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