A corporation has 5,000 shares of $5 par, 6% cumulative preferred stock outstanding and 25,000 shares of $2 par common stock outstanding. No dividends have been paid for the past two years. If the company wishes to distribute $2 per share to the common stockholders this year, what is the total amount of dividends that must be paid? a. $54,500 b. $4,500 c. $51,500 d. $50,000