December 31, 2017. Question Five (15 marks, 27 minutes) Smith & Wesson, a company that sells pacifist products to the environmental community, began the year with 1,000,000 common shares and 100,000 preference shares outstanding. The preference shares had a stated value of $10 each and carried a 7% cumulative dividend. The company had been in existence for a number of years and had consistently paid both a common share and a preferred share dividend. Last year, however, the market for its products slipped significantly in 2017 due to the uncertainty in the United States following the election of Donald Trump, and the company chose not to pay a dividend on either of its class of shares in that year. However, things have improved in recent years and the company has decided to pay its common shareholders a dividend of $0.50 per share in December 2018 and also a common share dividend of $0.60 per share in December 2019. Required: Calculate the amount of each type of dividend that will be paid in each of 2018 and 2019