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As of 2017, Buttle Corp. has $10 par, 2% preferred stock, 5,200 shares outstanding, and $1 par common stock with 25,600 shares outstanding. The preferred
As of 2017, Buttle Corp. has $10 par, 2% preferred stock, 5,200 shares outstanding, and $1 par common stock with 25,600 shares outstanding. The preferred stock is cumulative and preferred stockholders last received a dividend in 2014.
If the company wants to distribute $4 per share to the common stockholders in 2017, what is the total amount of dividends that the company must pay at the end of the current year?
$102,400
$3,120
$105,520
$103,440
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