Outstanding stock of the Swifty Corporation included 31000 shares of $5 par common stock and 8500 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Swifty declared and paid dividends of $3100. In 2020, Swifty declared and paid dividends of $15500. How much of the 2020 dividend was distributed to preferred shareholders?

$7350.

$12750.

$4250.

None of these answer choices are correct.