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The Albert Corporation has two classes of stock: 10,000 shares of common stock, with a...

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Accounting

The Albert Corporation has two classes of stock: 10,000 shares of common stock, with a par value of $50, and 1,000 shares of cumulative 8% preferred stock, with a par value of $100. The board of directors has voted to distribute the following dividends during the next 5 years: year 1, $6,000; year 2, $3,500; year 3, $12,000; year 4, $30,000; year 5, $36,000. For each of these years, calculate the dividend distribution that preferred stockholders and the common stockholders are entitled to. Remember that the preferred stock is only cumulative

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