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How much of the dividend will be distributed to preferred

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Problem 1: Lavar corporation has 10,000 shares of $100 par value cumulative $8.00 preferred stock outstanding. They also have 50,000 shares of no-par common stock outstanding. Preferred dividends have been paid not been for the previous year as well as the current year. If $350,000 has been declared as a dividend for both common and preferred shareholders, how much of the dividend will be distributed to preferred shareholders?

Reference no: EM132840974

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