Winston Corporation has 9,000 shares of 4%, \($10\) par cumulative preferred stock and 47,000 shares of common stock outstanding. Winston Corporation declared no dividends in 2024 and had no dividends in arrears prior to 2024. In 2025, Winston Corporation declares a total dividend of \($54,000.\) How much of the dividends go to the common stockholders?

a. \($54,000\)

b. \($50,400\)

c. \($46,800\)

d. None; it all goes to preferred stockholders.