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

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The shareholders' equity of Red Corporation includes $200,000 of
$1 par common stock and $400,000 par of 6% cumulative preferred
stock. The board of directors of Red declared cash dividends of
$50,000 in 2021 after paying $20,000 cash dividends in 2020 and
$40,000 in 2019. What is the amount of dividends common
shareholders will receive in 2021?
A) $18,000.
B) $22,000. Correct answer
C) $26,000.
D) $28,000
Can you show the work please