Fargo Company's outstanding stock consists of 650 shares of noncumulative 5% preferred stock with a $10 per von and 4,200 shares of common stock with a $1 par value. During the first three years of operation, the corportion declared and paid the following total cash dividends. Dividends Declared Paid $30,000 $ 8,000 $39,000 88 year 1 year 2 year 3 The amount of dividends paid to preferred and common shareholders in year 1 is: Multiple Choice $30,000 perred: $0 common $30.000 preferred: $0 common $24.2500 preferred: $5,750 common $15,000 preferred: $15,000 common. $325 preferred: $29,675 common $6,500 preferred: $23,500 common