Sweet Companys outstanding stock consists of 1,500 shares of noncumulative 5% preferred stock with a $100 par value and 11,500 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 $ 3,500 Year 2 $ 9,000 Year 3 $ 39,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is: Multiple Choice

$15,000 preferred; $37,000 common.

$22,500 preferred; $29,500 common.

$18,500 preferred; $33,500 common.

$7,500 preferred; $44,500 common.

$16,500 preferred; $35,500 common.