Total cash dividends related problem

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Norton's outstanding stock consists of (a) 13,000 shares of noncumulative 8% preferred stock with a $10 par value and (b) 32,500 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.

2009 $ 8,000
2010 24,000
2011 120,000
2012 197,000

Reference no: EM13145646

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