Barclays Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$	278,000
Cash dividends declared for the year		61,250
Proceeds from the sale of equipment		104,800
Gain on the sale of equipment		5,850
Cash dividends payable at the beginning of the year		26,950
Cash dividends payable at the end of the year		34,500
Net income for the year		134,750

The amount of cash paid for dividends was: