Friendly Company Has 20,000 Shares of $160 Par Value, 5

Multiple Choice

Friendly Company has 20,000 shares of $160 par value, 5% cumulative preferred stock and 140,000 shares of $40 par value common stock. Friendly declares and pays cash dividends amounting to $451,200.
If no arrearage on the preferred stock exits, how much in dividends per share is paid to the common stockholders?

A) $1.50
B) $8.00
C) $2.08
D) $3.22