The shareholders' equity of Red Corporation includes $240,000 of $1 par common stock and $440,000 par of

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The shareholders' equity of Red Corporation includes $240,000 of $1 par common stock and $440,000 par of 7% cumulative preferred stock. The board of directors of Red declared cash dividends of $54,000 in 2021 after paying $24,000 cash dividends In 2020 and $44.000 in 2019. What is the amount of dividends common shareholders will receive in 2021? Multiple Choice $23200 $16,400 $37,600 $23.200 $16,400 $37,600 $9.600