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Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding$ 55,000Common stock$___ par value, 4,000 shares authorized, issued, and outstanding160,000Retained earnings350,000Total stockholders' equity$ 565,000

2. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $20,550, compute the total amount paid to (a) preferred shareholders and (b) common shareholders.