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(30 marks) Dividend Payments At the start of 2015 , Devonshire Corporation has 15,000 outstanding shares of preferred stock, each with a $40 par value

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(30 marks) Dividend Payments At the start of 2015 , Devonshire Corporation has 15,000 outstanding shares of preferred stock, each with a $40 par value and a cumulative 7% annual dividend. The company also has 28,000 shares of common stock outstanding with par value of \$25 per share. At the beginning of 2019, the company has a 3 -for-2 common stock split. The company pays total cash dividends as follows. Calculate the dividends paid to each category of stockholders, in total and per share

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