Pear, Inc. was incorporated on January 1, Year 1. Pear issued 12,000 shares of common stock and 1400 shares of preferred stock on that date. The preferred stock is cumulative, $100 par, with an 11% dividend rate. Pear has not paid any dividends yet. In Year 4, Pear had its first profitable year, and on November 1, Year 4, Pear declared a total dividend of $63,000. What is the total amount that will be paid to preferred shareholders? $63,000 O $15,400 O $14,300 $61,600