Rachel's Designs has 1,200 shares of 6%,$50 par value cumulative preferred stock issued at the beginning of 2016 . All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2016 or 2017 . The company plans to pay total dividends of $12,000 in 2018 . How much of the $12,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders