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10. The Citrus Corporation issued 5,000 shares of preferred stock at par value several years...

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10. The Citrus Corporation issued 5,000 shares of preferred stock at par value several years ago. The par value is $100 per share, the dividend rate is 5% per year, and the stock is cumulative with respect to dividends. Citrus has always paid the dividends on the preferred stock, but in 2021, due to temporary conditions, no dividends were paid. In 2022, the board of directors wants to pay a total of $125,000 in dividends to both preferred and common stockholders. How much of the $125,000 dividends would be available to common stockholders in 2022? a. S125,000 b. $25,000 c. $75,000 d. $50,000

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