Total Dividends to be paid on preferred stock

USE THE FOLLOWING INFORMATION FOR QUESTIONS 33-36: XYZ CORPORATION IS FINANCED AS FOLLOWS: 9% BONDS (ISSUED AT FACE VALUE).. $4,500,000 PREFERRED $6 STOCK, $100 PAR .3,500,000 COMMON STOCK, $5 PAR. ...1,000,000 Prior to bond interest expense and income taxes, income is $2,000,000. (EBIT - Earnings before interest & taxes.) Federal Income tax is computed at 20% of taxable income Total dividends to be paid on preferred stock are: (Assume the Board of Directors decides that there is sufficient cash and retained earnings to pay the stated dividend on PS.) O $18.000 O $30,000 $180,000 $210,000