Pearland Company Has 2,000 Shares of Preferred Stock Outstanding

Pearland Company has 2,000 shares of preferred stock outstanding. The preferred stock has a $100 par value, a 5% dividend rate, and is non-cumulative. If Pearland has sufficient funds to pay dividends, what is the total amount of dividends that will be paid out to preferred shareholders?

A) $10,000
B) $2,000
C) $1,000
D) $5,000