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How much of now goes to the holders of common stock

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Question

A corporation has 100,000 shares of 7 percent noncumulative preferred stock and 40,000 shares of common stock outstanding. Par value for each is $10.

No dividends were paid last year. This year a $150,000 dividend is paid. How much of the $150,000 now goes to the holders of common stock?

Reference no: EM132318890

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