The shareholders' equity of Bill 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 Bill declared cash dividends of $50,000 in 2014 after paying $20,000 cash dividends in 2013 and $40,000 in 2012.
What is the amount of dividends common shareholders will receive in 2014?