Hallery Corporation has 12,000 shares of 4%, $15 par cumulative preferred stock and 49,000 shares of common stock outstanding. Hallery declared no dividends in 2017 and had no dividends in arrears prior to 2017. In 2018, Hallery declares a total dividend of $52,000. How much of the dividends go to the common stockholders? A. $37,600 B. $44,800 C. $52,000 D. None; it all goes to preferred stockholders.