Please help, I think I'm doing something wrong here!

Torino Company has 1,700 shares of $20 par value, 4.5% cumulative and nonparticipating preferred stock and 17,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $500 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: Multiple Choice $1030 5 $1,530 $2.560 $500 e to search 1:10 PM 7/21/2020 Multiple Choice $1,030. $1,530 $2,560 $500 O $3,060 No o I ch