Kerry Industries has 20,000 outstanding shares of 8%, $40 par value preferred stock with a cumulative dividend feature. For the past two years, Kerry hasnt declared any dividends. For the current year, however, the firm declares it will be paying a total of $350,000 in dividends. How much of this amount will be distributed to Kerrys common stockholders?

$158,000.00

$286,000.00

$222,000.00

$266,000.00