19.

The shareholders' equity of Green Corporation includes $266,000 of $1 par common stock and $460,000 par value of 7% cumulative preferred stock. The board of directors of Green declared cash dividends of $56,000 in 2016 after paying $26,000 cash dividends in each of 2015 and 2014. What is the amount of dividends common shareholders will receive in 2016?

a) $44,600

b) $11,400

c) $38,400

d) $23,800