Chewning (orporation has 10,000 shares of (5 %, $ 10) par preferred stock and (5000) shares of
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Chewning (orporation has 10,000 shares of \(5 \%, \$ 10\) par preferred stock and \(5000\) shares of common stock outstanding. (hewning declared no dividends in 2008 . In 2009 , (hewning declares a total dividend of \(\$ 50,000\). How much of the dividends go to) the common stockholders?
a. \(\$ 50,000\)
b. \(\$ 40,000\)
c. \(\$ 10,000\)
d. None; it all goes to preferred
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