Hi can someone help me with this question? the answer key says the answer is $132,000 but I don't know how? As you can see I am getting $162,000 as the answer from my work below but it says the answer is b)$132,000? Show your work please and thanks in advance!

My work:

120,000 x 6% x $5=36,000

$270,000(total amount of dividend paid) - 72,000(Arrears cumulative dividend) - 36,000(current year preferred dividend)= $162,000

10. Written, Inc. has outstanding 600,000 shares of $2 par common stock and 120,000 shares of no-par 6% preferred stock with a stated value of $5. Dividends have been paid in every year except the past two years and the current year. Assuming that $270,000 will be distributed, and the preferred stock is cumulative and participating, how much will the common stockholders receive?" a. $162,000 b. $132,000 $138,000. d. $ 72,000 2018- NITED STATES) 12:03 AM 8/3/2019 P3