Please help

A company has outstanding 14.00 million shares of $6.00 par common stock and 1.8 million shares of $4.80 par preferred stock. The preferred stock has an 8% dividend rate. The company declares $380,000 in total dividends for the year. Which of the following is correct if the preferred stockholders only have a current dividend preference?

Multiple Choice

• Preferred stockholders will receive the entire $380,000, and they must also be paid $4,000 sometime in the future before common stockholders will receive anything.
• Preferred stockholders will receive the entire $380,000, but will receive nothing more relating to this dividend declaration. Common stockholders will receive nothing.
• Preferred stockholders will receive the entire $380,000, and they must also be paid $4,000 before the end of the current accounting period. Common stockholders will receive nothing.
• Preferred stockholders will receive $30,400 or 8% of the total dividends. Common stockholders will receive the remaining $349,600.