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What size dividend must be paid

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Question - Ennis, Inc. has 35,000 common shares issued at a $2.25 par value of which 22,000 are outstanding. If Ennis has no other outstanding stock, what size dividend must be paid such that each share receives $3.20?

a. $112,000

b. $49,500

c. None of these are correct.

d. $41,600

e. $70,400

Reference no: EM133060520

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