The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $126,000 Cash dividends declared for the year $46,000 Proceeds from the sale of equipment $81,000 Gain on the sale of equipment $7,000 Cash dividends payable at the beginning of the year $18,000 Cash dividends payable at the end of the year $20,000 Net income for the year $92,000 The amount of cash dividends paid during the year would be: