Cullumber Ltd. has outstanding 100000 no par common shares and 20000 no par, $0.40, preferred shares issued at $5 each. The preferred shares are cumulative and non-participating. Dividends have been paid every year except the past two years and the current year. The Common Shares account currently shows a balance of $200000. Assuming that $58750 will be distributed as a dividend in the current year, and the preferred shares are also fully participating, how much will the common shareholders receive? $30250 $34750 $16000 $28500