Problem related to cumulative preferred stock

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Reference no: EM13127262

Division Corp has 20,000 shares of $5.00 participating 9 percent cumulative preferred stock and 100,000 shares of $2.00 common stock. On July 1, the board of division declared a $30,000 dividend at the time the common stock was selling for $25 per share and the preferred stock was selling for $30. The total dividends paid to each class of stock on the payment date was?

a)10,000 20,000

b)16,000 14,000

c)12,500 17,500

d) 9,500 20,500

Reference no: EM13127262

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