Electric, Inc. was incorporated on January 1, 2016. Electric issued 6,000 shares of common stock and 1.000 shares of preferred stock on the preferred stock is cumulative, $100.00 par, with an 11% dividend rate. Electric has not paid any dividends yet. In 2019. Electriched its first pro year, and on November 1, 2019, Electric declared a total dividend of $55,000. What is the total amount that will be paid to preferred sharidus O A. $55,000 OB. $11,000 OC. $9,900 O D. $44,000