Orleans,Inc

Orleans,Inc.was incorporated on January 1,2014.Orleans issued 4,000 shares of common stock and 1,200 shares of preferred stock on that date.The preferred stock is cumulative,$100 par,with an 12% dividend rate.Orleans has not paid any dividends yet.In 2017,Orleans had its first profitable year,and on November 1,2017,Orleans declared a total dividend of $63,000.What is the total amount that will be paid to preferred shareholders?

A) $14,400
B) $57,600
C) $13,200
D) $63,000