Walker, Inc., has the following capital structure:

Preferred stock— $25 par value, 10,000 shares authorized,

7,000 shares issued and outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . $175,000

Common stock— $10 par value, 100,000 shares authorized,

80,000 shares issued and outstanding . . . . . . . . . . . . . . . . . .. .. . . . .. . . . . . . . . . . . 800,000

Total paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . $975,000

Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . 550,000

Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,525,000

The number of issued and outstanding shares of both preferred and common stock have been the same for the last two years. Dividends on preferred stock are 8 percent of par value and have been paid each year the stock was outstanding except for the immediate past year. In the current year, management declares a total dividend of $50,000. Indicate the amount that will be paid to both preferred and common stockholders assuming

(a) The preferred stock is not cumulative and

(b) The preferred stock is cumulative.