A publicly traded company that is held by many institutional investors has the following information: $100,000 Preferred shares, 8%, cumulative, and fully participating Contributed capital, preferred share retirement 65,000 Retained earnings 280,000 Common shares, unlimited number authorized, 40,000 issued and outstanding The preferred share dividend was not paid in the previous year. The average share price for Common Shares is $12.50 per share. Paid the annual dividend on the preferred shares. The common shares were then paid a $2.35 per share dividend. Round the participating percentage to four decimal places. Net income for 2020 was $115,000. Calculate the dividends that will be paid to the all Shareholders and show your calculations