Last Inc, Has 2,000 Shares of 6%, $50 Par Value, Cumulative

Multiple Choice

Last Inc., has 2,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2018, and December 31, 2017. The board of directors declared and paid a $4,000 dividend in 2017. In 2018, $24,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2018?

A) $16,000
B) $12,000
C) $8,000
D) $6,000