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A corporation has 20,000 $8.00 preferred shares outstanding with a stated value of $2,000,000. Also, there are 20,000 common shares outstanding. If a $350,000 dividend

A corporation has 20,000 $8.00 preferred shares outstanding with a stated value of $2,000,000. Also, there are 20,000 common shares outstanding. If a $350,000 dividend is paid, how much goes to the preferred shareholders? Question 8 options: $350,000 $0 $160,000

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