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Outstanding stock of the Pina Colada Corporation included 47000 shares of $5 par common stock and...

Outstanding stock of the Pina Colada Corporation included 47000 shares of $5 par common stock and 16500 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Pina Colada declared and paid dividends of $7050. In 2020, Pina Colada declared and paid dividends of $23500. How much of the 2020 dividend was distributed to preferred shareholders?

$15300.

$24750.

$8250.

None of these answer choices are correct

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