Curtain Company paid dividends of $14,000, $20,000, and $45,250 during year 1, year 2, year 3 , respectively. The company had 2,600 shares of 5.0%. $200 par value preferred stock outstanding that paid a cumulative dividend. What is the total amount of dividends paid to common shareholders during year 3?

A) $26,000

B) $12,000

C) $1,250

D) $30,000