What is the legal limit on current dividends

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Reference no: EM13261302

Carnegie Mellon and Produce Co. has $197,000,000 in stockholders' equity. Forty million dollars is listed as common stock and the balance is in retained earnings. The firm has $265,000,000 in total assets and 2 percent of this value is in cash. Earnings for the year are $26,000,000 and are included in retained earnings.

What is the legal limit on current dividends?

Reference no: EM13261302

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