A Company Has 10,000 Shares of $10 Par, 3% Preferred

A company has 10,000 shares of $10 par, 3% preferred stock outstanding, and 25,000 shares of $4 par common stock outstanding. The preferred stock is cumulative, and no dividends have been paid for the past two years.
If the company wishes to distribute $4 per share to the common stockholders, what is the total amount of dividends that must be paid in the current year?

A) $109,000
B) $101,500
C) $103,000
D) $145,000