On December 31, 2018, AdelphiCorporation has outstanding 500 shares of $100 par value, 5% cumulative and nonparticipating preferred stock, and 8,000...

On December 31, 2018, Adelphi Corporation has outstanding 500 shares of $100 par value, 5% cumulative and nonparticipating preferred stock, and 8,000 shares of $10 par value common stock. Preferred dividends were paid in 2016 but were not paid in 2017. During 2018, Alpha distributed $30,000 in dividends. Use this information to determine for 2018 the dollar amount of dividends that will be distributed per Common Share. Round answer to closest cent.