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McBean Company has outstanding 26 million shares of $1 par value common stock and 2.6...

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Accounting

McBean Company has outstanding 26 million shares of $1 par value common stock and 2.6 million shares of $3 par value preferred stock. The preferred stock has a 6% dividend rate. The company declares $15,600,000 in total dividends for the year. Preferred Dividends in arrears are $780,000. what are the preferred dividends and common dividends?

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