Assume Wilt, Inc

Assume Wilt, Inc. owns 15,000 shares of preferred stock in Dallas Enterprises, Inc. If Dallas Enterprises issues a preferred stock cash dividend of $1.20 per share, what amount per share, if any, is taxable income to Wilt Distributors?

A) $.84
B) $.60
C) $1.20
D) $.72
E) $0