Question

Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common.

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York’s outstanding stock consists of 75,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 130,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.
  


Year 1 total cash dividends$18,600
Year 2 total cash dividends
28,000
Year 3 total cash dividends
270,000
Year 4 total cash dividends
420,000

Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)

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