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Matt, Inc has 5,000 shares of 5%, 100 par value, cumulative preferred stock and 75,000 shares of $1 par value common stock outstanding at December 31, 2012. What is the annual dividend on the preferred stock?
a) $5,000 b) $100,00 c)$25,000 d) 0. Preferred shockholders fo not receive dividends.
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