Determining Cash Dividends to Preferred and Common Shareholders

Sinclair Company has outstanding $60,000$ shares of $$50$ par value, $6\%$ cumulative preferred stock and $150,000$ shares of $$10$ par value common stock. The company declares and pays cash dividends amounting to $$420,000.$

a$.$ If there are no preferred dividends in arrears, how much in total dividends, and in dividends per share, does Sinclair pay to each class of stock?

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