Question - Outstanding stock of the Colt Corporation included 20,000 shares of $5 par common stock and 5,000 shares of 5%,$10 par noncumulative preferred stock. In 2009,Clot declared and paid dividends of $2,000. In 2010, Clot declared and paid dividends of $6,000. How much of the 2010 dividend was distributed to preferred shareholders?
A) $3,000
B) $3,500
C) $2,500
D) None of the above