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How much could it pay to the common stockholders

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Question - On January 1, 2016 Bogart Acres Company issued 10,000 shares of 10%, $20 par value cumulative preferred stock. In 2016 and 2017, no dividends were declared on preferred stock. In 2018, Bogart had a profitable year and decided to pay dividends to stockholders of both preferred and common stock. If it has $200,000 available for dividends in 2018, how much could it pay to the common stockholders?

Reference no: EM132037244

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