Class of stock on the payment date

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Reference no: EM13155422

Division Corp. has 20,000 shares of $5.00 participating 9 % cumulative preferred stock and 100,000 shares of $2.00 common stock. On July 1, the board of Division declared a $30,000 dividend at the time the common stock was selling for $25 per share and the preferred stock was selling for $30. The total dividends paid to each class of stock on the payment date was for preferred and for common?

Reference no: EM13155422

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