Dividends on preferred stock.

In each of the following independent cases, it is assumed that the corporation has $800,000 of 6% preferred stock and $3,200,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2013 and 2014.

(a) As of 12/31/15, it is desired to distribute $250,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating?

(b) As of 12/31/15, it is desired to distribute $800,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and participating up to 11% in total?

(c) On 12/31/15, the preferred stockholders received a $240,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during 2015?