The outstanding stock is composed of 10,000 shares of $100par, cumulative preferred $8 stock, and 50,000 shares of no-parcommon stock. Preferred dividends have been paid every year exceptfor the preceding year and the current year. If $380,000 is to bedistributed as a dividend for the current year, what total amount will be distributed to the preferred stockholders?
a. $380,000
b. $0
c. $80,000
d. $160,000