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ABC Corp had the following stock issued & outstanding 1/1/14:
1. 103,000 shares of $10 par common stock
2. 6,500 shares of $60 par, 5% non cumulative preferred stock.
On 5/10, ABC declared the annual cash dividend on 6,500 shares of preferred stock and $4/share dividend for the common shareholders. The dividends will be paid on 6/15 to the shareholders of record on 5/30.
What is the amount of dividends paid to the preferred shareholders and common shareholders?
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