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Preferred stock, 6%,$5 par value, 100,000 shares authorized, 40,000 shares issued and outstanding...

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Accounting

Preferred stock, 6%,$5 par value, 100,000 shares authorized, 40,000 shares issued and outstanding
$2,000,000
Common stock, $9 par value, 300,000 shares authorized, 220,000
$1,980,000 shares issued and outstanding
If the company pays a $200,000 dividend, and the preferred stock is cumulative and three years' dividends are in arrears, what is the amount the common stockholders will receive?
Multiple Choice
$176,000
$152,000
$164,000
$0
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