U Qotion 15 Malcolm Company has the following outstanding stock at the end of both 20x7 and 20X8: . Preferred Stock (8%, $100 par value. 4,000 shares issued and outstanding) Common Stock ($1 par value, 220,000 shares issued and outstanding) No dividends were declared or paid in 20X7. If the company's preferred stock is NON-CUMULATIVE and the 20X8 dividend declared amounts to a total of $40,000, how much will go to preferred stockholders? O $8,000 O $64,000 O $16,000 O $40,000 $32,000 89 | on.examity.com is sharing your screen. Stop sharing Hide