Sweet Company$$s outstanding stock consists of $2,000$ shares of cumulative $4\%$ preferred stock with a $$100$ par value and $12,000$ shares of common stock with a $$10$ par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

Dividends Declared & Paid

Year $1$ $ $4,000$

Year $2$ $ $8,000$

Year $3$ $ $42,000$

The amount of dividends paid to preferred and common shareholders in year $3$ is:

Multiple Choice

$$8,000$ preferred; $$34,000$ common.

$$0$ preferred; $$42,000$ common.

$$12,000$ preferred; $$30,000$ common.

$$24,000$ preferred; $$18,000$ common.

$$42,000$ preferred; $$0$ common.