The shareholders' equity of Dell,Inc includes $200,000 of $1 par common stock and $600,000 of 5% cumulative preferred stock. The board of directors of Dell declared cash dividends of $70,000 in 2011 after paying $40,000 cash dividends in 2010 and $50,000 in 2009. Required: What is the amount of dividends common shareholders will receive in 2011