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A company has an authorised share capital of 10,000,000 50p ordinary shares. Its balance sheet shows allotted and fully paid capital of $2,000,000. A dividend

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A company has an authorised share capital of 10,000,000 50p ordinary shares. Its balance sheet shows allotted and fully paid capital of $2,000,000. A dividend of 3c per share is declared. The cash payable to shareholders amounts to

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