Oxford Corporation Has 120,000 Shares of Preferred Stock,8% Cumulative,$100 Par

Multiple Choice

Oxford Corporation has 120,000 shares of preferred stock,8% cumulative,$100 par value
It also has 1,400,000 shares of common stock,$0.01 par value.(The share information represents the numbers of shares issued and outstanding for both types of stock.) Dividends in arrears at the beginning of the year totaled $480,000.If Oxford's board of directors declares a total dividend of $1,650,000 to be distributed to preferred and common stockholders,how much will be paid to the common stockholders?

A) $1,440,000
B) $210,000
C) $1,170,000
D) $690,000