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At the beginning of its first year of operations, Bonita Limited has 4,900, $3 preferred shares and 48,000 common shares. Using the format shown below, allocate the total dividend paid in each year to the preferred and common shareholders, assuming that the preferred shares are (a) noncumulative, and (b) cumulative. (a) (b) Dividend Noncumulative Cumulative Year Paid Preferred Common Preferred Common 1 $14,700 $ $ 2 10,700 3 24,700 4 24,700