Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six$-$year period: $20$Y$1,$ $$60,000$; $20$Y$2,$ $$80,000$; $20$Y$3,$ $$160,000$; $20$Y$4,$ $$160,000$; $20$Y$5,$ $$170,000$; and $20$Y$6,$ $$180,000.$ During the entire period ended December $31$ of each year, the outstanding stock of the company was composed of $400,000$ shares of cumulative, preferred $2\%$ stock, $$10$ par, and $500,000$ shares of common stock, $$15$ par.