The outstanding share capital of Sheng Inc. includes 39,000 shares of $9.60 cumulative preferred and 74,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends:

Year	Total Dividends Declared
2018	$	0
2019		400,000
2020		1,038,000
2021		400,000