Company's outstanding stock consists of $1,040$ shares of cumulative $5\%$ preferred stock with a $$100$ par value and $10,000$ shares of common stock with a $$10$ par value. During the first three years ation, the corporation declared and paid the following total cash dividends.

$\backslash$table$[[,$Dividends Declared$],[,$& Paid$],[$ear $1,$$$2,400$