Written, Inc. has outstanding 300,000 shares of $2 par ordinary shares and 60,000 shares of no-par 8% preference shares with a stated value of $5. The preference shares are cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year.

Assuming that $200,000 will be distributed, and the preference shares are participating up to 12%, how much will the preferred shareholders receive if the matching dividend for ordinary shares is $0.25 per share?

		$105,000.
		$90,000.
		$93,000.
		$84,000.