Ivanhoe Corporation issued 890,000 of 1.10 noncumulative preferred stock. In its first year of operationsIvanhoe paid $636,350 of dividends to its preferred stockholders in its second year the company paid dividends of $538,450 to its preferred stockholders.

(a) What is the total annual preferred dividend supposed to be for the preferred stockholders?

Total annual preferred dividend:

Part B: Calculate any dividends in arrears years 1 and 2. Assume that the preferred stock is cumulative rather than noncumulative.