Orleans, Inc. was incorporated on January 1, 2014. Orleans issued 10,000 shares of common stock and 800 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 13% dividend rate. Orleans has not paid any dividends yet. In 2017, Orleans had its first profitable year, and on November 1, 2017, Orleans declared a total dividend of $50,000. What is the total amount that will be paid to preferred shareholders? O $9,100 O $50,000 O $41,600 O $10,400