2) As of December 31, 2021, Loreen Inc. has 10,000 shares of $50 at par, 4% cumulative preferred stock and 15,000 shares of $10 at par common stock outstanding. During the year 2020, the company did not declare any dividends. In the year 2021, the company decided to declare dividends at 5% of the retained earnings of 2021. The retained earnings in 2021 amounts to $1,500,000. Calculate the amount of dividends available for common stockholders. a) $75,000. b) $40,000. c) $35,000, d) $25,000.