Luther Inc Has 2 000 Shares Of 6 50 Par Value Cumulative Preferred Stock And 100

Luther Inc., has 2,000 shares of 6%, $50 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at December 31, 2010, and December 31, 2009. The board of directors declared and paid a $5,000 dividend in 2009. In 2010, $24,000 of dividends are declared and paid. What are the dividends received by the preferred stockholders in 2010? a. $17,000b. $12,000c. $7,000d. $6,000

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