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Bridgewater Furniture has net income of $49,566. At the beginning of the year, the firm had retained earnings of $318,300 and common stock of $250,000.

Bridgewater Furniture has net income of $49,566. At the beginning of the year, the firm had retained earnings of $318,300 and common stock of $250,000. At the end of the year, the firm has retained earnings of $322,500 and common stock of $280,000. What is the amount of the dividends paid for the year?

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