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Question - Booyah Party Supplies, Inc. outstanding stock consists of 80,000 shares of cumulative 7.5% Preferred Stock and 200,000 shares of $1 par value Common Stock. During its first four years of operation, Booyah's declared and paid the following total cash dividends:
Year 1 total cash dividends $20,000
Year 2 total cash dividends 28,000
Year 3 total cash dividends 200,000
Year 4 total cash dividends 350,000
Required - What is the distribution of dividends in Year 3?
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