Outstanding stock of the Core Corporation included 20,000 shares of $5 par common stock and 10,000 shares of 5%, $10 par noncumulative preferred stock. In 2011, Core declared and paid dividends of $4,000. In 2012, Core declared and paid dividends of $12,000. How much of the 2012 dividend was distributed to preferred shareholders? $7,000 $4,000 $5,000 None of the above