Fairmount Inc., a developer of radiology equipment, has stock outstanding as follows: 16,000 shares of cumulative preferred 3% stock, $150 par, and 53,000 shares of $5 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $48,320; second year, $67,040; third year, $122,900; fourth year, $134,010.