What are the dividends received by preferred stockholders

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Question - Crane Company, has 5000 shares of 5%, $50 par value, cumulative preferred stock and 100000 shares of $1 par value common stock outstanding at December 31, 2021, and December 31, 2020. The board of directors declared and paid an $8200 dividend in 2020. In 2021, $41800 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2021?

a. $12500

b. $25000

c. $16800

d. $33200

Reference no: EM132686341

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