Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 13,200 22,000 240,000 390,000 Exercise 11-12 (Algo) Dividends on common and noncumulative preferred stock LO C2 York's outstanding stock consists of 60,000 shares of noncumulative 8.0% preferred stock with a $5 par value and also 280,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Note: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Preferred Dividend Annual Preferred Dividend: $ 5.00 8.0% S Shares 0.400 60,000 $ 24,000 Dividends in Total Cash Dividend Paid Paid to Preferred Paid to Common Arrears at year-end Year 1 $ 13,200 $ 13,200 $ 0 $ Year 2 22,000 22,000 0 Year 3 240,000 24,000 216,000 0 Year 4 390,000 24,000 366,000 Total: 665,200 $ 83,200 $ 582,000