Sweet Company's outstanding stock consists of 2,000 shares of noncumulative 4% preferred stock with a $100 par value and 12,00 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.

Dividends Declared:

• Year 1: $4,000
• Year 2: $8,000
• Year 3: $42,000

The amount d dividends paid to preferred and common stock holders in year 3 is: