Question: Year 1 total cash dividends $ 1 8 , 8 0 0 Year 2 total cash dividends 2 7 , 7 0 0 Year 3

Year 1 total cash dividends $ 18,800
Year 2 total cash dividends 27,700
Year 3 total cash dividends 245,000
Year 4 total cash dividends 395,000
Yorks outstanding stock consists of 70,000 shares of cumulative 8.5% preferred stock with a $5 par value and also 290,000 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:
Note: Round your "Dividend per Preferred Share" answer to 3 decimal places.

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