As of January 1, XYZ Inc has 8,300 preferred shares outstanding for a total cost of 1$216,380. The company also has 13,285 common shares outstanding for a total cost of $1,328,190. If the preferred shares pay a dividend of $1.14 per share and are participating, what is the per-share dividend that should be allocated to the common shares before any additional dividend would be paid to preferred shareholders for participation? $4.04 $4.15 $4.26 $4.37 $4.48