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Burns' Alley paid a total of $75,000 in dividends during 2015. For the first year, the corporation had 3,000 shares of cumulative preferred $6 stock,
Burns' Alley paid a total of $75,000 in dividends during 2015. For the first year, the corporation had 3,000 shares of cumulative preferred $6 stock, $15 par and 15,000 shares of common stock, $10 par issued. The corporation did not pay dividends in 2013 or 2014. Determine how much each common and preferred shareholder will recieve.
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