9:55 Sweet Company's outstanding stock consists of 1,500 shares of cumulative 5% preferred stock with a $100 par value and 15,000 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid Year 1 Year 2 Year 3 $ 3,000 $ 9,000 $ 48,000 The amount of dividends paid to preferred and common shareholders in year 3 is: Multiple Choice $10,500 preferred; $37,500 common. $7,500 preferred; $40,500 common. $15,000 preferred; $33,000 common.