How much money in dividends will each class of stock receive

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Question - Fowler Corp. has the following stock outstanding:

- Preferred stock, cumulative, 5%, $10 par, 10,000 shares

- Common stock, $10 par, 20,000 shares

Dividends have not been paid in 2 years (2012 and 2013). In the current year (2014), the board of directors declared dividends of $25,000. How much money in dividends will each class of stock receive?

Reference no: EM132597200

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