available for common stockholders $($earnings after taxes and preferred stock dividends, if any$)$ under the following conditions:

a$.$ The firm pays $$11,900$ in interest.

b$.$ The firm pays $$11,900$ in preferred stock dividends.

EBIT

Less: Interest expense

Earnings before taxes

Less: Taxes $(21\%)$

Earnings after taxes

Less: Preferred dividends

Earnings available for common stockholders

$