JKL Inc. is authorized to issue 200,000 $2 noncumulative preferred shares and 5,000,000 common shares. On January 1, 2016, JKL Inc had 10,000 preferred shares and 150,000 common shares issued and outstanding. The company did not issue new preferred shares or common shares in 2016. It declared cash dividends to preferred and common shareholders on Dec 31, 2016. What is the total cash dividend on the preferred shares? None of the presented choices. O $20,000 $300,000 400,000 $10,000