Torino Company has $1,800$ shares of $$10$ par value, $5\mathrm{.}0\%$ cumulative and nonparticipating preferred stock and $18,000$ shares of $$10$ par value common stock outstanding. The company paid total cash dividends of $$500$ in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

Multiple Choice

$$400.$

$$1,300.$

$$500.$

$$900.$

$$1,800.$