Boot Corporation has 10,000 shares of 8%, $100 par value, non-cumulative preferred stock outstanding at December 31, 2019. No dividends were declared in 2017 or 2018. If Boot wants to pay $375,000 of dividends in 2019, common stockholders will receive:

Select one:

a. $215,000.

b. $135,000.

c. $160,000.

d. $295,000.