P8-5 Dividends on preferred and common stock Yukon Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Canada, Montana, Idaho, Oregon, and Washington. Yukon Bike Corp. has declared the following annual dividends over a six-year period ending December 31 of each year: Year 1, $28,000; Year 2, $44,000; Year 3, $48,000; Year 4, $60,000; Year 5, $76,000; and Year 6, $140,000. During the entire period, the outstanding stock of the company was composed of 40,000 shares of 2% preferred stock, $65 par, and 50,000 shares of common stock, $1 par. Ye Instructions for each of the six years. Summarize the data in tabular form, u headings using the following 1. Determine the total dividends and the per-share dividends declared o Common Preferred Dividends Total Dividends Total Per Share Total Per Share Year 28,000 44,000 48,000 60,000 76,000 140,000 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 2. Calculate the average annual dividend per share for each class of stock for the six-year perio 3. Assuming that the preferred stock was sold at $57.50 and common stock was sold at s5.0 at the beginning of the six-year period, calculate the average annual percentage return co initial shareholders' investment, based on the average annual dividend per share (a) for preferred stock and (b) for common stock