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, $220,000$

$$1,980,000$ shares issued and outstanding

If the company pays a $$200,000$ dividend, and the preferred stock is cumulative and three years' dividends are in arrears, what is the amount the common stockholders will receive?

Multiple Choice

$$ $$176,000$

$$152,000$

$$ $$164,000$

$$ $$0$