Companies outstanding capital stock at December 15 consisted of the following; 30,000 shares of 5% cumulative preferred stock par value $10 per share, fully participating as to dividends no dividends were in arrears. 200,000 shares of common stock, par value $1 per share.

Understand or 15th company declared dividends of $100,000 what is the amount of dividends payable to companies common stockholders?

$40,000, $10,000, 47,500 or $34,000