The shareholders' equity of Red Corporation includes $310,000 of $1 par common stock and $510,000 par of 8% cumulative preferred stock. The board of directors of Red declared cash dividends of $61,000 in 2021 after paying $32,000 cash dividends in 2020 and $51,000 in 2019. What is the amount of dividends common shareholders will receive in 2021?

Multiple Choice $49,600. $11,400. $20,200. $2,600.