A Corporation Has 15,000 Shares of 10%,$50 Par Cumulative Preferred

A corporation has 15,000 shares of 10%,$50 par cumulative preferred stock outstanding and 25,000 shares of no-par common stock outstanding.Dividends of $37,500 are in arrears.At the end of the current year,the corporation declares a dividend of $120,000.What is the dividend per share for preferred stock and for common stock?

A) The dividend per share is $5.00 to preferred stock and $4.60 per share to common stock.
B) The dividend per share is $8.00 to preferred stock and $0 per share to common stock.
C) The dividend per share is $7.50 to preferred stock and $0.30 per share to common stock.
D) The dividend per share is $8.00 to preferred stock and $0.30 per share to common stock.