Citicool’s outstanding stock consists of

(a) 40,000 shares of noncumulative 7.5% preferred stock with a $10 par value and

(b) 100,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following cash dividends:

Determine the amount of dividends paid each year to each of the two classes of stockholders. Also compute the total dividends paid to each class for the four years combined.

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2003 2004 2005 2006. $ 10,000 24,000 100,000 196,000