Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $18,800 27,700 245,000 395,000 Exercise 13-12 (Algo) Dividends on common and cumulative preferred LO C2 York's outstanding stock consists of 70,000 shares of cumulative 8.5% preferred stock with a $5 par value and also 290,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Exercise 13-12 (Algo) Dividends on common and cumulative preferred LO C2 York's outstanding stock consists of 70,000 shares of cumulative 8.5% preferred stock with a $5 par value and also 290,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Preferred Dividend Shares Annual Preferred Dividend: $ 5.00 8.5% $ 0.425 70,000 $ 29,750 Dividends in Total Cash Paid to Dividend Paid Preferred Paid to Common Arrears at year-end Year 1 $ 18,800 $ 18,800 $ 0 $ 10,950 Year 2 27,700 27,700 0 Year 3 245,000 Year 4 395,000 Totals $ 686,500 $ 46,500 $ 0