The shareholders' equity of Green Corporation includes $408,000 of $1 par common stock and $590,000 par value of 7% cumulative preferred stock. The board of directors of Green declared cash dividends of $69,000 in 2016 after paying $39,000 cash dividends in each of 2015 and 2014. What is the amount of dividends common shareholders will receive in 2016?

$27,700.

$45,900.

$43,600.

$23,100.