Required information Use the following information for the Exercises below. (Algo) [The foliowing information applies to the questions displayed below] Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 85,000 shares of noncumulative 7.0% preferted stock with a $5 por value and also 260,000 shtares of common stock with a \$1 par value. During its first four years of operation, the corporation declared and paid the followiry total cast dividends: Determine the amount of dividends paid each year to esch of the two classes of stockholders: preferred and commen. (Aound your "Dividend per Preferred Share*" answer to 3 decimal places.) (8) Answer is complete but not entirely correct. Exercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 85.000 shares of noncumulotive 7.0% preferted stock with a $5 par value and also 260,000 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: Determine the amount of dlvidends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)