Preferred stock, $6\%,$$$5$ par value, $100,000$ shares authorized, $40,000$ shares issued and outstanding

$$2,000,000$

Common stock, $$9$ par value, $300,000$ shares authorized, $220,000$ shares issued and outstanding

$$1,980,000$

If the company pays a $$200,000$ dividend, and the preferred stock is noncumulative, what is the amount the stockholders will receive?

Multiple Choice

Preferred will get $$36,000$ and Common will get $$164,000$

Preferred will get $$48,000$ and Common will get $$200,000$

Preferred will get $$12,000$ and Common will get $$188,000$

Preferred will get $$108,000$ and Common will get $$92,000$