Lott Co. has outstanding 20,000 shares of 8% preferred stock with a $10 par value and 100,000 shares of $3 par value common stock. Dividends have been paid every year except last year and the current year. If the preferred stock is cumulative and fully participating and $131,000 is distributed, the common stockholders will receive:

Select one:

a.

$63,333

b.

$51,000

c.

$69,000

d.

$78,600

e.

$83,400