The shareholders' equity of Green Corporation includes $364,000 of $1 par common stock and $550,000 par value of 7% cumulative preferred stock. The board of directors of Green declared cash dividends of $65,000 in 2016 after paying $35,000 cash dividends in each of 2015 and 2014. What is the amount of dividends common shareholders will receive in 2016?

$19,500.

$42,000.

$45,500.

$26,500.