The following information is provided for Bold Company for the year 2017: -Preferred stock, 6%, $50 par value, 1,000 shares issued and outstanding . Common stock, $100 par value, 2,000 shares issued and outstanding Dividends in arrears for three prior years (2014-2016) Total dividends declared and paid in 2017 were $50,000. How much of the 2017 dividend payment was paid to the common stockholders assuming the preferred stock is cumulative? Select one: A. $47,000. B. $38,000. C. $50,000. D. $12,000