Sweet Company's outstanding stock consists of 1,800 shares of cumulative 4% preferred stock with a $100 par value and 10,800 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 Dividends Declared & Paid $ 2,800 $ 6,800 $ 36,000 The amount of dividends paid to preferred and common shareholders in year 3 is: Multiple Choice $12,000 preferred: $24,000 common. U O $7,200 preferred; $28,800 common. $21,600 preferred: $14,400 common. O $36.000 preferred: $0 common. O $0 preferred: $36.000 common O