Sweet Company's outstanding stock consists of 1100 shares of cumulative 6% preferred stock with a $100 par value and 10,100 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 Year 1 Year 2 Year 3 Dividend Declared $ 2,100 $ 6,100 $32,500 The total amount of dividends paid to preferred and common shareholders over the three year period is