Outstanding Stock of the Hall Corporation Included 40,000 Shares of $5

Multiple Choice

Outstanding stock of the Hall Corporation included 40,000 shares of $5 par common stock and 20,000 shares of 5%, $10 par non-cumulative preferred stock.In 2019, Hall declared and paid dividends of $8,000.In 2020, Hall declared and paid dividends of $24,000.How much of the 2020 dividend was distributed to preferred shareholders?

A) $14,000.
B) $18,000.
C) $10,000.
D) None of these answer choices are correct.