Coronado, Inc. has 24500 shares of 5%, $100 par value, noncumulative preferred stock and 49500 shares of $1 per veue common shoutstanding a December 21, 2018. There were no dividends declared in 2017. The board of directors declares and pays a $260000 dividend in 2018. What is the amount of cheidende recebe the cockholders in 20187
A. $0
B. $122500
C. $260000
D. $137500