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Dividends on Preferred and Common StockYosemite Bike Corp. manufactures mountain bikes and distributesthem through retail outlets in California, Oregon, and Washington.Yosemite Bike has declared the following annual dividends over asix-year period ended December 31 of each year: 20Y1, $24,750;20Y2, $10,250; 20Y3, $105,000; 20Y4, $95,000; 20Y5, $115,000; and20Y6, $130,000. During the entire period, the outstanding stock ofthe company was composed of 25,000 shares of cumulative preferred2% stock, $80 par, and 100,000 shares of common stock, $4 par.Required:1. Determine the total dividends and theper-share dividends declared on each class of stock for each of thesix years. There were no dividends in arrears at the beginning of20Y1. Summarize the data in tabular form. If required, round youranswers to two decimal places. If the amount is zero, please enter"0".Preferred DividendsCommon DividendsYearTotalDividendsTotalPer ShareTotalPer Share20Y1$24,750$$  $$20Y210,25020Y3105,00020Y495,00020Y5115,00020Y6130,000$$2. Determine the average annual dividend pershare for each class of stock for the six-year period. Round youranswers to two decimal places.Average annual dividend for preferred stock$ per shareAverage annual dividend for common stock$ per share3. Assuming a market price of $100 for thepreferred stock and $5 for the common stock, determine the averageannual percentage return on initial shareholders’ investment, basedon the average annual dividend per share (A) for preferred stockand (B) for common stock. Round your answers to two decimalplaces.Preferred stock%   Common stock%