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The shareholders' equity of Red Corporation includes $320,000 of $1 par common stock and $520,000 par of 7% cumulative preferred stock. The board of directors

The shareholders' equity of Red Corporation includes $320,000 of $1 par common stock and $520,000 par of 7% cumulative preferred stock. The board of directors of Red declared cash dividends of $62,000 in 2021 after paying $32,000 cash dividends in 2020 and $52,000 in 2019. What is the amount of dividends common shareholders will receive in 2021?

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