Taiwanese Company has 5,000 $1.60 cumulative preferred shares and 10,000 common shares. The following amounts were distributed

Question:

Taiwanese Company has 5,000 $1.60 cumulative preferred shares and 10,000 common shares. The following amounts were distributed as dividends:
Year 1 ....................... $15,000
Year 2 ....................... 5,000
Year 3 ....................... 62,000
Determine the distribution of dividends.

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