Rendezvous, Inc. has 10,000 shares of 5%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2017. There were no dividends declared in 2016. The board of directors declares and pays a $110,000 dividend in 2017. What is the amount of dividends received by the common stockholders in 2017? Select one: a. $50,000 b. $110,000 c. $60,000 d. $0