The shareholders' equity of Red Corporation includes $350,000 of $1 par common stock and $550,000 par of 7% cumulative preferred stock. The board of directors of Red declared cash dividends of $65,000 in 2021 after paying $35,000 cash dividends in 2020 and $55,000 in 2019. What is the amount of dividends common shareholders will receive in 2021?

a. $19,500

b.23,00

c.26,500

d.42,00