A portion of the stockholders' equity section from the balance sheet of Walland Corporation appears as follows. Notice that the

company has two classes of preferred stock with different features, in addition to common stock.

Stockholders' equity:

Preferred stock, $8\%$ cumulative, $$50$ par, $40,000$ shares authorized, issued, and outstanding

Preferred stock, $12\%$ noncumulative, $$100$ par, $8,000$ shares authorized, issued, and outstanding

Common stock, $$5$ par, $400,000$ shares authorized, issued, and outstanding

Total paid$-$in capital

$$2,000,000800,000$

$800,000$

$[2,000,000],[$$$4,800,000]$

Assume that all the stock was issued on January $1$ and that no dividends were paid during the first two years of operation. During the

third year, Walland Corporation paid total cash dividends of $$736,000.$

a$.$ Compute the amount of cash dividends paid during the third year to each of the three classes of stock.

b$.$ Compute the dividends paid per share during the third year for each of the three classes of stock. $($Round your answers to $2$

decimal places.$)$

c$.$ What was the average issue price of each type of preferred stock?