Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Exercise 11-12 (Algo) Dividends on common and cumulative preferred LO C2 'ork's outstanding stock consists of 70,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 120,000 shares of ommon stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash lividends: Note: Round your "Dividend per Preferred Share" answer to 3 decimal places