Sweet Company's outstanding stock consists of 1,000 shares of noncumulative 5% preferred stock with a $100 par value and 10,000 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.

Dividend Declaredyear 1$2,000year 2$6,000year 3$32,000

The total amount of dividends paid to preferred and common shareholders over the three-year period is: