Accounting.

Halverstein Company's outstanding stock consists of 8,050 shares of cumulative 5% preferred stock with a $10 par value and 3,450 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

	Dividends Declared & Paid
Year 1	$	0
Year 2	$	6,900
Year 3	$	32,000

The amount of dividends paid to preferred and common shareholders in Year 2 is: