A Company Has 20,000 Shares of Preferred Shares Outstanding Paying

A company has 20,000 shares of preferred shares outstanding paying 0.30 cents dividend per share.It also has 110,000 shares of common stock outstanding.If the company decides to pay a total of $35,000 in dividends.The preferred stock is cumulative with two years' dividends in arrears.What is the amount of dividend preferred stockholders will receive?

A) $6,000
B) $12,000
C) $18,000
D) $24,000