Sweet Company's outstanding stock consists of 1,400 shares of noncumulative 4% preferred stock with a $100 par value and 10,4 shares of common stock with a $10 par value. During the first thre years of operation, the corporation declared and paid the followir total cash dividends. year 1 year 2 year 3 Dividend Declared $ 2,400 $ 6,800 $34,000 The total amount of dividends paid to preferred and common shareholders over the three-year period is