Exercise 11-12 (Algo) Dividends on common and cumulative preferred LO C2 York's outstanding stock consists of 60,000 shares of cumulative 8.0% preferred stock with a $5 par value and also 280,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Par Value per Preferred Share Answer is not complete. Dividend Rate Dividend per 8.0% $ Preferred Share 0.400 Shares Number of Preferred Preferred Dividend 60,000 $24,000 ( Annual Preferred Dividend: 5.00 Total Cash Dividends Dividend Paid to Preferred Paid to Common in Arrears Paid at year-end Year 1 $ 13,200 13,200 $ $ Year 2 22,000 22,000 06 Year 3 Year 4 Totals 240,000 24,000 390,000 24,000 $ 665,200 83,200 $ 0 Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 13,200 22,000 240,000 390,000 Exercise 11-12 (Algo) Dividends on common and cumulative preferred LO C2 York's outstanding stock consists of 60,000 shares of cumulative 8.0 % preferred stock with a $5 par value and also 280,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: (Round your "Dividend per Preferred Share" answer to 3 decimal places.)