At the beginning of the year, Execon Company had total assets of $200,000, total liabilities of $110,000, and total shareholders' equity of $90,000m which included retained earnings of $61,265. For the year, Execon Company earned net income of $60,490, and at the end of the year it reported total assets of $295,561 and retained earnings of $103,764. For the year, how much did Execon pay in cash dividends?