Miriah Inc. has 10,000 shares of 5%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2014. What is the annual dividend on the preferred stock?

a. $50,000 in total

b. $0.50 per share

c. $10,000 in total

d. $50 per share