Curtain Company Paid Dividends of $7,000; $11,000; and $14,000 During

Multiple Choice

Curtain Company paid dividends of $7,000; $11,000; and $14,000 during Year 1, Year 2, and Year 3, respectively. The company had 1,400 shares of 7.0%, $100 par value preferred stock outstanding that paid a cumulative dividend. The amount of dividends received by the common shareholders during Year 3 would be:

A) $9,800.
B) $4,000.
C) $2,600.
D) $2,800.