Sweet Companys outstanding stock consists of 1,500 shares of noncumulative 4% preferred stock with a $100 par value and 10,500 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 $ 2,500 Year 2 $ 7,000 Year 3 $ 34,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is