Springs and Sponges commenced operations on January 1st, 2021, with authorized share capital comprised 600,000 ordinary shares of $2.75 each and 300,00010% preference shares of $4.25 each. At that date, the company issued 70% of its ordinary shares at a premium of $1.40 each and 50% of its preference shares at par. During that year ended 31 December 2021, the company declared and paid an ordinary dividend $0.15 per share along with preference dividends. On January 1st2022, the company issued the remaining ordinary shares at $4.00 each and the remaining preference shares at $6.00 each. REQUIRED: a) Calculate the value of dividends paid by the company during the financial year ending December 31, 2021