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A corporation has issued 9,000 shares of $5 cumulative preferred shares for a total of $45,000 and 27,000 common shares for a total of $270,000.

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A corporation has issued 9,000 shares of $5 cumulative preferred shares for a total of $45,000 and 27,000 common shares for a total of $270,000. No dividends have been declared for 2020 and 2021. In 2022, the corporation declares a $288,000 dividend. What is the amount to be paid to common shareholders? Show your entry or solution

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