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Valley, Inc. has 1 0 , 0 0 0 shares of preferred stock outstanding. The preferred stock has a $ 1 6 0 par value,

Valley, Inc. has 10,000 shares of preferred stock outstanding. The preferred stock has a $160 par value, a 14% dividend rate, and is noncumulative. If Valley has sufficient funds to pay dividends, What is the total amount of dividends that will be paid out to preferred stockholders?
A. $114,286
B. $224,000
C. $16,000
D. $57,143
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