Oxford Corporation has 120,000 shares of preferred stock, 8% cumulative, $100 par value It also has 1,400,000 shares of common stock, $0.01 par value. (The share information represents the numbers of shares issued and outstanding for both types of stock.) Dividends in arrears at the beginning of the year totaled $480,000. If Oxford's board of directors declares a total dividend of $1,650,000 to be distributed to preferred and common stockholders, how much will be paid to the common stockholders?

A) $1,440,000

B) $210,000

C) $1,170,000

D) $690,000