The shareholders' equity of Absolut Corporation includes $200,000 of $1 par common stock and $400,000 of 6% cumulative preferred stock. The preferred...

The shareholders' equity of Absolut Corporation includes $200,000 of $1 par common stock and $400,000 of 6% cumulative preferred stock. The preferred stock was issued at par. The board of directors of Absolut declared cash dividends of $50,000 in 2017 after paying $20,000 cash dividends in 2016 and $40,000 in 2015. What is the amount of dividends common shareholders will receive in 2017?

1. A) $18,000.
2. B) $22,000.
3. C) $26,000.
4. D) $28,000.