Question
Chevron's contributed capital was as follows: 6% Cumulative Preferred Stock 7,500 shares issued, $80 par value Common Stock, 22,500 shares issued, $2 par value
Chevron's contributed capital was as follows: 6% Cumulative Preferred Stock 7,500 shares issued, $80 par value Common Stock, 22,500 shares issued, $2 par value Dividends were last paid in 2019. Since 2019, there have been no additional shares of stock issued. Chevron has declared and paid the following dividends in subsequent years as show in the table below: 2020 $30,000 2021 45,000 2022 23,000 2023 60,000 Determine the total amount of dividends to be allocated to the preferred stockholders in 2023?
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