Beta Company has $$3,200,000$ of $6\%$ preferred stock and $$4,800,000$ of common stock outstanding, each having a par value of $$10$ per share. No dividends have been paid or declared during $2011$ and $2012.$ As of December $31,2013,$ the company announced that it plans to distribute $$1,584,000$ in dividends.

Summary of Data:

Common Value $$4,800,000$

Preferred Value $$3,200,000$

Total Value $$8,000,000$

Dividend Amount $$1,584,000$

Preferred $\%0\mathrm{.}06$

Instructions

Calculate the amount that will be distributed to preferred and common stockholders under each of the following assumptions:

$(15)$ The preferred is noncumulative and nonparticipating.

$(16)$ The preferred is cumulative and nonparticipating.

$(17)$ The preferred is cumulative and fully participating.