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Cole Company has 302,000 shares of common stock authorized, 255,000 shares issued, and 72,000 shares of treasury stock. The companys board of directors has declared

Cole Company has 302,000 shares of common stock authorized, 255,000 shares issued, and 72,000 shares of treasury stock. The companys board of directors has declared a dividend of 71 cents per share. What is the total amount of the dividend that will be paid?

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