A company has the following paid-in capital:

Preferred stock, 6%, $5 par value, 100,000 shares authorized, 20,000 shares issued and outstanding	$500,000
Common stock, $9 par value, 300,000 shares authorized, 110,000 shares issued and outstanding	$990,000

Use the information above to answer the following question. If the company pays a $35,000 dividend, and the preferred stock is cumulative and two years' dividends are in arrears, what is the amount the common stockholders will receive?

A) $35,000

B) $23,000

C) $29,000

D) $17,000