Oriole, Ltd. has 11,000 outstanding no par value $1.00 preferred shares issued for $110,000 and 46,000 outstanding no par value common shares issued for $32,200. No dividends were paid or declared during 2023 and 2024. Oriole wants to distribute $50,440 in dividends on December 31, 2025.

Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are cumulative and fully participating.

Preferred Common

Total dividends $ $