Sweet Companys outstanding stock consists of 1,800 shares of cumulative 5% preferred stock with a $100 par value and 11,800 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. Dividend Declared Year 1 $ 2,800 Year 2 $ 6,800 Year 3 $ 36,000 The total amount of dividends paid to preferred and common shareholders over the three-year period is: