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Question - Tamarisk, Inc. has 12000 shares of 5%, $100 par value, cumulative preferred stock and 24000 shares of $1 par value common stock outstanding at December 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $112800 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020?
a. $0.
b. $60000.
c. $45600.
d. $52800.
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