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At the end of 2010, Washington Corporation reported a $40,000 balance in its common stock...

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Accounting

At the end of 2010, Washington Corporation reported a $40,000 balance in its common stock account (par value $1 per share). The treasury stock account balance was $720 (cost $6 per share). During 2010, the company declared and paid a cash dividend at $1.50 per share.

Calculate the total amount of the 2010 cash dividend.

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