ABC Company's outstanding stock consists of 2,000 shares of noncumulative 4% preferred stock with a $100 par value and 12,000 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. (8 01.20.30 year 1 year 2 year 3 Dividend Declared $ 4,000 $10,000 $ 42,000 The total amount of dividends paid to preferred and common shareholders over the three-year period is