(The following information applies to the questions displayed below.) York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 20,000 28,000 200,000 350,000 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.) Share Annual Preferred Dividend: 7.5% Answer is complete but not entirely correct. Par Value Dividend Number per Dividend per of Preferred Preferred Rate Preferred Preferred Dividend Share Shares 5.00 80,000.000 6 $ 30,000 Total Cash Dividends Dividend Paid to Paid to in Arrears Paid Preferred Common at year- end $ 20,000 20,000 $ 0$ 0 28,000 28,000 0 0 200,000 30,000 170,000 200,000 X 350,000 30,000 320,000 350,000 $ 598,000 108.000 $ 490,000 Year 1 Year 2 Year 3 Year 4 Total