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Smith Company has 10,000 shares of $200 par value, 6% cumulative preferred stock and 150,000...

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Accounting

Smith Company has 10,000 shares of $200 par value, 6% cumulative preferred stock and 150,000 shares of $50 par value common stock. Howard declares and pays cash dividends amounting to $800,000.

If no arrearage on the preferred stock exists, how much in total dividends (preferred stock and common stock) is paid to each class of stock?

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