York's outstanding stock consists of 60,000 shares of cumulative 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: (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Answer is complete but not entirely correct. Par Value per Preferred Share Annual Preferred Dividend: Dividend Dividend Number of per Preferred Preferred Rate Preferred Shares Dividend Share 8.0% $ 0.400 60,000 $ 24,000 Paid to Paid to Dividends Preferred Common in Arrears at year-end $ 13,200 $ 0$ 10.800 22,000 0 12,800 51,000 X 216,000 X 0 24,000 366,000 0 $ 110,200 $ 582,000 $ 5.00 Total Cash Dividend Paid $ 13,200 22,000 240,000 390,000 $ 665,200 Year 1 Year 2 Year 3 Year 4 Totals Required information 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