The River Company has issued 10% nonparticipating, cumulative preferred stock with a total par value of $460,000 and common stock with a total par value of $640,000. No dividends are in arrears. If $160,000 of cash dividends are paid how much will be paid to preferred shareholders? a. $50,000 b. $45,000 c. $160,000 d. $46,000