Sweet Company's outstanding stock consists of 1,100 shares of noncumulative 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. Dividend Declared year 1 $ 2,100 year 2 $ 6,200 year 3 $ 32,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is: