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Year 1 total cash dividends $ 23,000 Year 2 total cash dividends 31,700 Year 3 total cash dividends 235,000 Year 4 total cash dividends 385,000

Year 1 total cash dividends $ 23,000
Year 2 total cash dividends 31,700
Year 3 total cash dividends 235,000
Year 4 total cash dividends 385,000

Yorks outstanding stock consists of 90,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 270,000 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. (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 Shares Preferred Dividend
Annual Preferred Dividend:
Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end
Year 1 $23,000
Year 2 31,700
Year 3 235,000
Year 4 385,000
Total: $674,700

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