The Company has Preferred Stock that is consisting of outstanding stock 60,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 170,000 shares of common stock with a $1 par value. During its first three years of operation, the corporation declared and paid the following total cash dividends:

Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.)

Year 1 total cash dividends

$ 10,700

Year 2 total cash dividends

20,500

Year 3 total cash dividends

290,000

Total Cash

Paid to Cumulative Preferred

Paid to Common

Dividends in Arrears at Year-end

Year 1

$10,700

Year 2

$20,500

Year 3 paid)

$290,000

Total for three years