The shareholder's equity of Green Corporation includes $310,000 of $1 par common stock and $500,000 par value of 7% cumulative preferred stock. The board of directors of Green declared cash dividends of $60,000 in 2016 after paying $30,000 cash dividends in each of 2015 and 2014. What is the amount of dividends common shareholders will receive in 2016?

A.) $45,000

B.) $25,000

C.) $15,000

D.) $40,000