Carver Company has had 10,000 shares of 6%, $100 par-value preferred stock; and 50,000 shares of $10 par-value common stock issued and outstanding for the last two years. During the most recent year, the board-of-directors declared a total dividend of $300,000 to be paid to the preferred and common stockholders. During the prior year, the board-of-directors declared a total dividend of $40,000 be paid to the preferred and common stockholders.

If the preferred stock is cumulative and partially-participating, up to 12% , with the common stock holders, determine the total amount of dividends to be distributed to the common stock holders during the current (most recent) year.

a. $ 160,000

b. $ 140,000

c. $ 60,000

d. $ 30,000

e. Cannot be determined from the information given.