Fox Co. has 100,000 shares of $10 par common stock and 40,000 shares of $15 par fullyparticipating10% cumulative preferred stock. If Fox declares cash dividends of $200,000 during the current year and there are no dividends in arrears, how much will all the preferred shareholders receive?

Group of answer choices

$120,000

$57,143

$60,000

$75,000