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The shareholders' equity of Banana Corporation includes $200,000 of $1 par ordinary shares and $400,000...

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Accounting

The shareholders' equity of Banana Corporation includes $200,000 of $1 par ordinary shares and $400,000 of 6% cumulative preference shares. The board of directors of Banana declared cash dividends of $50,000 in 2023 after paying $20,000 cash dividends in each of 2022 and 2021. What is the amount of dividends preference shareholders will receive in 2023?
$18,000.
$28,000.
$32,000.
$26,000.

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