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A company has 10,000 shares of 5% cumulative preferred stock outstanding that has a $100 par value. Dividends are in arrears for 2 prior years.
A company has 10,000 shares of 5% cumulative preferred stock outstanding that has a $100 par value. Dividends are in arrears for 2 prior years. Preferred stockholders must receive a total of $________ in dividends before common stockholders can receive any dividends.
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