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Tache Technologies has the following stock outstanding: 1. 3,000 shares of 8%, cumulative, preferred stock, $50 par value 2. 20,000 shares of $25 par value

Tache Technologies has the following stock outstanding: 1. 3,000 shares of 8%, cumulative, preferred stock, $50 par value 2. 20,000 shares of $25 par value common stock No dividends are in arrears from previous years. If the board declares $50,000 in dividends this year, how much goes to each class of stock?

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