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A corporation has 1000 shares of 10% cumulative preferred stock and 2000 shares of common stock outstanding. par value of each is $10. no dividends

A corporation has 1000 shares of 10% cumulative preferred stock and 2000 shares of common stock outstanding. par value of each is $10. no dividends were paid last year but this year a $15000 dividend is paid. how much of the $15000 goes to the holders of preferred stock?

Why is this answer $2000

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