Outstanding stock of the Crevusse Corporation included 40,000 shares of $5 par common stock and 20,000 shares of 5%, $10 par noncumulative preferred stock. In 2016, Crevusse declared and paid dividends of $8,000. In 2017, Crevusse declared and paid dividends of $24,000. How much of the 2017 dividend was distributed to preferred shareholders?

(a) $14,000

(b) $8,000

(c) $10,000

(d) None of these answer choices are correct

Answer rating: 100% (QA)

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