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How much of dividend distributed to preferred shareholders

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Question - Outstanding stock of the West Corp included 40,000 shares of $5 par common stock and 10,000 shares of 5%, $10 par noncumulative preferred stock. In 2016, West declared and paid dividends of $4,000. In 2017, West declared and paid dividends of $20,000. How much of the 2017 dividend was distributed to preferred shareholders?

Reference no: EM131651184

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